SOCAR adjusts its investment program depending on oil price
Edited by Rhod Mackenzie / 2014-10-13 03:58:34
SOCAR doesn’t see any problems in the instability of world oil prices, as it takes into account the scenario based on lower prices in forecasting its incomes, the head of SOCAR, R.Abdullayev on reported on October 11th, 2014.
He stated that the costs and investment program of SOCAR are adjusted depending on the level of oil prices. The Azerbaijan's state budget-2014 was formed based on the oil prices of $100 per barrel.
In January-September this year, the average monthly price for Azerbaijani oil was at the level of $109 per barrel.
According to analysts, if the price of Azerbaijani oil remains at the current level of $90-95 per barrel till the end of the year, the average price won’t fall below $100 per barrel.
