SOCAR comments on impact of decline in world oil prices on its revenues

It is not right to talk about the impact of the short-term decline in world oil prices on the annual rates of SOCAR (State Oil Company of Azerbaijan) revenues, the head of SOCAR Rovnag Abdullayev said Sept.15, commenting on the fall in oil prices and its impact on company earnings.
“The situation is normal and all these processes are always taken into account in the forecasts,” Abdullayev said.
Last week, considering the expectations of an escalation of the conflict in the Middle East, the price of a barrel of Brent on the London Stock Exchange went down to $97.
The world market price of oil has fallen for the third consecutive month.
In a couple of months the price of oil on the world market may fall to $85 per barrel, according to experts.
The average price on AZERI LT, exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports to Italian Augusta port, was $99.04 per barrel Sept.8-12, which is $3.27 less compared to the previous week.
The average price on Urals (Ex-Novo) exported from Azerbaijan via the Novorossiysk port was $95.51 per barrel, which is $3.55 per barrel more compared to the previous week.
The average price on Brent Dated was $97.2 per barrel, which is $3.46 per barrel less compared to the previous week.