Alekperov believes that the price of a barrel of oil in 2016 will remain at $42-47

Alekperov believes that the price of a barrel of oil in 2016 will remain at $42-47


SOFIA, December 9. /Corr. Igor Lenka/. Oil prices in 2016 will remain at $42-47 per barrel, predicts the head of “LUKOIL” Vagit Alekperov. His point of view he expressed in an interview with the Bulgarian newspaper “Trud”.

“Was at a meeting with OPEC in Vienna, where he had been talking with Ministers from Iran and Iraq, different analysts all believe that next year prices will remain at the current level. So we’re talking about existing low price levels $42-47 per barrel. At the end of 2016 – early 2017 the prices will start to increase”, – said Alekperov.

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According to him, in 2017 the production of oil and consumption is equal, then the oil price will start growing, though not as fast as in the years of crisis.

“According to our calculations, in the medium term prices will hover near $60 per barrel, – said Alekperov. – Mankind will continue to look for new sources of energy, but in the next 40-50 years will be dominated by traditional energy sources – oil, gas and coal.”

Speaking about the company’s work in Bulgaria, Alekperov noted that its activities negatively affected a large number of different checks.

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“This affects the company because a lot of experts are providing additional information. The pressure we feel not only in Bulgaria but also in Romania, and in several other countries. Not saying that there should be checks such big companies as ours, but they should not be sudden. They must be systematic and well planned. We work transparently, are members of the Bulgarian petroleum and gas Association. What we want is to have clear rules and transparency for all, to avoid smuggling, non-payment of taxes, the preferential treatment of certain players. Well, there is a competitive environment, but it has to do with the common rules for all”, – said the head of “LUKOIL”.

Alekperov expressed regret that major energy projects – the construction of the gas pipeline “South stream” and a new nuclear power plant (Belene NPP) in Bulgaria are not implemented. “Such a guaranteed mega-projects would change the economy of Bulgaria. But I hope that sooner or later they will be realized,” he said, adding that the oil pipeline project Burgas-Alexandroupolis, he said “no longer relevant”.

Speaking about investment projects, Alekperov said that the company considered all projects that are associated with the geological studies, especially in the black sea region. “Currently involved in a large project in Romania, there have found one of the sites and at the end of the year will start the construction of wells. Small field, but still – result. At the moment we have no decisions on other investment projects, but we are studying them”, – said the head of “LUKOIL”.