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 »
9y 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...
9y ago from BBC.co.uk
PDVSA plays down Maldonado axe reports
A source at PDVSA, the Venezuelan state oil company, has played down...
9y ago from GrandPrix247.com
Bahrain offers big early-booking discounts on 2016...
Bahrain International Circuit is offering up to 20 per cent discounts on...
9y 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...
9y ago from F1Hub.net
Elsewhere On The Network
Popular On MGPToday.com
Pedro Acosta: “Forgetting about the championship”...
No description available...
10h ago from Motorsport.com
Former team boss Lin Jarvis definitively leaves Yamaha
No description available...
9h ago from Motorsport.com
Pramac MotoGP boss shares what ‘surprised’ him...
Pramac MotoGP Team Manager Gino Borsoi revealed that he was “quite...
1d ago from MotorsportWeek.c...
Rain spoils debut of Honda’s 850cc engine in Sepang...
No description available...
1d ago from Motorsport.com
Popular On IndyCarToday.com
Race start times for 2026 IndyCar season announced
The NTT IndyCar Series has announced the race broadcast start times for...
4d ago from MotorsportWeek.c...
Chip Ganassi Racing completes four-car roster for 2026...
No description available...
1w ago from Motorsport.com
Broadcast schedule for 2026 Indy NXT season announced...
No description available...
5d ago from Motorsport.com
Popular On TotalWRC.com
Why Hyundai expects to be stronger in WRC 2026
No description available...
8h ago from Motorsport.com
Red Bull co-owner Mark Mateschitz to enter Dakar...
No description available...
1d ago from Motorsport.com
Gregoire Munster confirmed for WRC Monte Carlo in...
The season opener marks a return to the event where Munster claimed his...
4d ago from MotorsportWeek.c...
Popular On GunnersToday.com
Arsenal join Tottenham & Chelsea in race for...
Arsenal, Tottenham and Chelsea remain interested in signing the Juventus...
5h ago from CaughtOffside.com
Arsenal plot surprise raid for 6ft 5in teen sensation...
Arsenal are interested in signing the AC Milan defender Davide...
5h ago from CaughtOffside.com
Arsenal conceding late goals is not a defence issue -...
Another fright before Christmas. Arsenal never seem to do it the easy way.
13h ago from SkySports.com
Arsenal latest: Kepa ready for Chelsea reunion in...
No description available...
13h ago from SkySports.com
Comments
Hottest News
Honda detail 'intense' Adrian Newey conversations as Aston...
Adrian Newey knows all about Aston Martin's new... Read More »
6h ago from RacingNews365.com
Verstappen Racing seal Mercedes GT3 deal as Haas address...
Check out the biggest stories of the day with the... Read More »
3h ago from RacingNews365.com
Daniel Ricciardo reaches new heights in airborne rally...
Former F1 driver Daniel Ricciardo took his Ford... Read More »
5h ago from RacingNews365.com
