Azerbaijan, Baku, Jan. 30 / Trend /
The average price on oil in 2009 will be no less than $50 per barrel, the RBC quoted Lukoil President Vagit Alakparov as saying in an interview with the television channel Russia Today.
"We are optimists and believe the price on oil will be no less than $50 per barrel. Because otherwise oil companies cannot guarantee a stable energy supply to customers," Alakparov said.
The lowest price on oil allowing companies to provide constant supplies and prevent a sharp increase in price fluctuates between $70-$90 dollars per barrel.
The Economic Development Ministry calculated Azerbaijan's major macroeconomic indicators for 2009 using an oil price of $50-$60 per barrel. Industrial production will decrease 3.2 percent in 2009 and GDP growth will hit 2.4 percent based on the calculations.
Lukoil is a large independent Russian oil company.
The company's aggregated capital is 21.264 million rubles.
Alakparov is the largest shareholder in the company (20.6 percent). Vice President Leonid Fedun owns 9.25 percent. Another 20 percent is owned by ConocoPhillips.
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