News Details
Azerbaijan Grand Prix under threat as oil prices plummet
Azerbaijan's inaugural Formula 1 race could be in doubt, according to an economist. The first F1 race on the historic streets of Baku is scheduled for June, but Azerbaijan's economy is currently being battered by the collapsing price of oil. 'Azerbaijan is an oil country,' Ali Hasanov, a presidential advisor, told the state news agency Azertac. 'The prices on oil and oil products have reduced threefold since early 2015. This means that Azerbaijan's revenues reduced threefold.' In the first 21 days of 2016, prices have plunged a further 25 per cent — a figure not seen since the global financial crisis. In the same period, the Azerbaijan currency has lost 30 per cent of its value,...
Full Story »
Full Story »
10y ago from GrandPrix247.com
0
You May Also Be Interested In...
F1 bosses reach engine price deal
The cost of engine prices is to be reduced after Formula 1 bosses reached...
10y ago from BBC.co.uk
PDVSA plays down Maldonado axe reports
A source at PDVSA, the Venezuelan state oil company, has played down...
10y ago from GrandPrix247.com
Bahrain offers big early-booking discounts on 2016...
Bahrain International Circuit is offering up to 20 per cent discounts on...
10y ago from Motorsport.com
How to get to ALL of the races on the calendar
With 21 races this year, 2016's Formula 1 schedule is jam-packed full of...
10y ago from F1Hub.net
Elsewhere On The Network
Popular On MGPToday.com
Honda chooses Luca Marini's crew chief for Fabio...
No description available...
10h ago from Motorsport.com
Moto3 title leader Maximo Quiles secures Aspar Moto2...
Incumbent Moto3 championship leader Maximo Quiles will be promoted to the...
13h ago from MotorsportWeek.c...
Pedro Acosta gives himself 7/10 rating after first...
No description available...
17h ago from Motorsport.com
Marc Marquez's relentless comeback: 'Nobody knows the...
No description available...
1d ago from Motorsport.com
Popular On IndyCarToday.com
World Cup lead-in set to bring massive attention to...
This weekend’s Music City Grand Prix from Nashville Superspeedway could...
1h ago from MotorsportWeek.c...
How to watch IndyCar 2026 at Nashville: Weekend...
No description available...
1d ago from Motorsport.com
FIFA World Cup Final drama and shifting start times...
No description available...
2d ago from Motorsport.com
Pato O’Ward labels Scott Dixon ‘perfect person to...
Pato O’Ward is looking forward to being able to learn new tips and...
2d ago from MotorsportWeek.c...
Popular On TotalWRC.com
WRC Estonia: Sami Pajari storms into rally lead with...
No description available...
4h ago from Motorsport.com
Peerless Pajari takes seven from seven to lead WRC...
Sami Pajari and Marko Salminen won all seven stages on the opening day of...
6h ago from MotorsportWeek.c...
WRC Estonia: Sami Pajari leads after Friday afternoon...
No description available...
11h ago from Motorsport.com
Why return to WRC happy hunting ground is important...
No description available...
14h ago from Motorsport.com
Popular On GunnersToday.com
“I thought it was AI, and it wasn’t even real” -...
Spain midfeilder Mikel Merino thought that the iconic image of Lionel...
1h ago from SportsKeeda.com
Papers: Arsenal preparing offer for Aston Villa...
The top stories and transfer rumours from Saturday's newspapers...
2h ago from SkySports.com
Reports: Arsenal in talks to make double £140million...
Arsenal could be preparing an extraordinary double raid on Aston Villa as...
2h ago from FreshArsenal.com
'He has something very special' - Nacho Monreal asks...
Former Arsenal defender Nacho Monreal has urged the club to do everything...
3h ago from SportsKeeda.com
Comments
Hottest News
Why did Ferrari go AWOL on day one at Spa-Francorchamps?
Lewis Hamilton believes Ferrari can close the gap... Read More »
2h ago from GrandPrix247.com
Lewis Hamilton facing FIA penalty at Belgian Grand Prix...
Ferrari have been reported to the stewards at the... Read More »
7h ago from GPFans.com
Max Verstappen upbeat after Friday practice at Spa but...
Max Verstappen declared Friday at... Read More »
2h ago from GrandPrix247.com
