Falling oil prices prevent implementation of new projects – SOCAR

The falling oil prices in global markets prevent new projects’ implementation, president of Azerbaijan’s state oil company SOCAR, Rovnag Abdullayev told reporters Apr. 2.

Abdullayev said that under normal economic conditions, the cost of manufacturing a product may not exceed its price.

“The investment projects, implementation of which has already begun, will of course be continued,” he said, adding that the issues of funding them had been solved and they cannot be suspended.

“There are such important projects as the Southern Gas Corridor, the reconstruction of the Baku Oil Refinery, construction of a carbamide plant and the SOCAR Polymer project, for which we have already found the funding sources,” Abdullayev explained.

/By Trend/