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
Ducati brings new swingarm and fairing to Jerez MotoGP...
No description available...
1h ago from Motorsport.com
MotoGP Jerez test: Aprilia 1-2-3 as new aero packages...
No description available...
2h ago from Motorsport.com
Fermin Aldeguer set for further medical checks as...
No description available...
1h ago from Motorsport.com
Marco Bezzecchi leaves Jerez MotoGP ‘satisfied'...
Marco Bezzecchi felt he achieved the best possible result with second...
5h ago from MotorsportWeek.c...
Popular On IndyCarToday.com
Arrow McLaren has "no fear" in running all...
No description available...
1h ago from Motorsport.com
Katherine Legge confirmed for Indy 500 with AJ Foyt
AJ Foyt Racing has announced that it will field a third entry in this...
5h ago from MotorsportWeek.c...
Katherine Legge will make Indy 500 return in HMD...
No description available...
6h ago from Motorsport.com
IndyCar to limit entries to those holding a charter
The NTT IndyCar Series has confirmed that future races will be limited to...
1d ago from MotorsportWeek.c...
Popular On TotalWRC.com
Thierry Neuville: “Nobody knows” answer to...
No description available...
5h ago from Motorsport.com
Oliver Solberg explains crash that ended WRC Canary...
No description available...
23h ago from Motorsport.com
Oliver Solberg crashes out of Rally Islas Canarias
Oliver Solberg and Elliot Edmondson have crashed out of Rally Islas...
1d ago from MotorsportWeek.c...
Sebastien Ogier dominates Rally Islas Canarias
Sebastien Ogier and Vincent Landais headed a Toyota one-two-three-four in...
1d ago from MotorsportWeek.c...
Popular On GunnersToday.com
Arsenal sporting director Andrea Berta spotted...
Arsenal Sporting Director Andrea Berta was in Turkey this week to watch...
1h ago from SportsKeeda.com
“It would heal a very deep wound” - Atletico star...
Atletico Madrid star Antoine Griezmann has opened up on his aspirations to...
3h ago from SportsKeeda.com
Arsenal could be entering into 'collaboration' with...
Arsenal could reportedly be set to enter into a collaboration of sorts...
4h ago from CaughtOffside.com
Andrea Berta pictured with club president as Arsenal...
Arsenal sporting director Andrea Berta has been spotted attending a...
5h ago from CaughtOffside.com
Comments
Hottest News
A battle of youth and experience at Mercedes – who...
As in 2016, Mercedes looks to have an iron grip... Read More »
52m ago from MotorsportWeek.com
Aston Martin told Adrian Newey F1 move 'was never going to...
Aston Martin F1 team have been handed a... Read More »
21m ago from GPFans.com
Oscar Piastri reveals striking outcome if Lando Norris F1...
Oscar Piastri has addressed the shocking... Read More »
51m ago from RacingNews365.com
