Energy Minister: Crude prices fall cannot last for long
Falling oil prices cannot last for long, Azerbaijani Minister of Energy Natig Aliyev told reporters on February 1.
He said that the current low oil prices are caused by economic reasons rather than political.
"The situation in the world and conflicts affect the global oil prices. But this cannot go in this way because the decline in oil prices impacts not only the economy of oil producing countries, but also consumer countries,” Aliyev said, adding that he expects to see oil prices jump by the end of this year.
He further noted that Azerbaijan needs $4 billion of investments to bring the energy distribution network into operation.
Regarding the possibility of privatization of the energy sector, he said it’s more likely that subsidiary companies, not the producing ones may be privatized in this area.
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