Azerbaijan reeling from oil prices

Dec 10, 2008 01:00 AM

Azerbaijan is faced with an ever-increasing drop in its oil fund reserves due to the steep decline in world energy prices, officials said.
The government of Azerbaijan in 1999 established its state oil fund to stabilize the economy, preserve oil revenues for future generations and finance major national projects.

Illham Shaba, the head of the Azeri Centre for Oil Research, told that if oil prices did not rebound to $ 60 per barrel by 2010, the oil fund reserves would be depleted swiftly.
"Moreover, low prices on oil lead to reduction in investments in the alternative energy sources, thus deepening the world dependence on oil and other hydrocarbons," he said. He noted that, contrary to public sentiment, low oil prices do not transfer to a benefit for the consumer, as the decrease in revenue for oil-producing countries may further destabilize world markets.

Market Research

The International Affairs Institute (IAI) and OCP Policy Center recently launched a new book: The Future of Natural Gas. Markets and Geopolitics.

Cover_242-width

The book is an in-depth analysis of some of the fastest moving gas markets, attempting to define the trends of a resource that will have a decisive role in shaping the global economy and modelling the geopolitical dynamics in the next decades.

Some of the top scholars in the energy sector have contributed to this volume such as Gonzalo Escribano, Director Energy and Climate Change Programme, Elcano Royal Institute, Madrid, Coby van der Linde, Director Clingendael International Energy Programme, The Hague and Houda Ben Jannet Allal, General Director Observatoire Méditerranéen de l’Energie (OME), Paris.

For only €32.50 you have your own copy of The Future of Natural Gas. Markets and Geopolitics. Click here to order now!


 

Upcoming Conferences
« April 2017 »
April
MoTuWeThFrSaSu
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

Register to announce Your Event

View All Events