BAKU, Azerbaijan, Jan. 14
By Sadraddin Aghjayev – Trend:
In the short and medium-term, oil and gas will remain one of the main energy carriers for the oil countries’ economy, Country Managing Partner of PricewaterhouseCoopers (PwC) Azerbaijan Movlan Pashayev told Trend.
According to the International Energy Agency, the price of oil by 2050 will fall by 70 percent - to $18 per barrel, and by 2030 – to $30 per barrel.
"Nowadays it is very difficult to make any forecast on the upward and declining trend in prices of these forms of energy," Pashayev said.
"In this context, several factors can be noted. First of all, hydrocarbon taxation is becoming increasingly popular, and companies engaged in this activity will be subject to excessive taxes. Secondly, the money the state will receive from oil and gas will be invested in other areas in order to diversify the economy and fill the emerging gaps in the budget. The role of oil and gas will proceed to remain high in the global economy, including Azerbaijan. But over the years, this role will diminish," he stated.
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