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Tuesday, October 31, 2006

Natig Aliyev - Falling oil price not risky for Azerbaijan

25 October 2006 [14:47] - Today.Az - Oil price fall in the world market is not risky for Azerbaijan, Azerbaijan's industry and energy minister Natig Aliyev told reporters. If the price per barrel is over US $50 planned for next year State Budget of Azerbaijan, it is favourable for Azerbaijan. "It would be unfavourable if the price is under the price planned in the Budget. Azerbaijan has reserves to regulate the process," he said. Considering oil price fall down in the world market as natural, Natig Aliyev said Azerbaijan can not influence this process. "OPEC can regulate this process and regulate the price. Price fall is its interest," he said. The Minister also stated that Azerbaijan should only gain benefit from this process and harmonize it policy with this process, APA reports. "The higher oil prices the more favourable for Azerbaijan," he underscored.

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