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
Marc Marquez buries 10-year clash with Valentino...
No description available...
20h ago from Motorsport.com
Why Fabio Quartararo feels he needs to...
Fabio Quartararo is using the MotoGP winter break to recharge and...
20h ago from MotorsportWeek.c...
Fabio Quartararo rates his 2025 MotoGP campaign 5/10
No description available...
1d ago from Motorsport.com
MotoGP exploring options to return to China after...
MotoGP series promoter Dorna is reportedly considering a return to China...
1d ago from MotorsportWeek.c...
Popular On IndyCarToday.com
JHR retains Sting Ray Robb for second season
Juncos Hollinger Racing has confirmed that Sting Ray Robb will remain...
1d ago from MotorsportWeek.c...
Sting Ray Robb to continue with Juncos Racing for 2026...
No description available...
1d ago from Motorsport.com
Aggressive testing schedule planned ahead of Mick...
Following confirmation Mick Schumacher will make a switch to IndyCar next...
1w ago from MotorsportWeek.c...
Mick Schumacher joins RLL in IndyCar switch
Rahal Letterman Lanigan Racing has announced that Mick Schumacher will...
1w ago from MotorsportWeek.c...
Popular On TotalWRC.com
Hyundai upgrading Rally2 car to “cover all bases”...
No description available...
18h ago from Motorsport.com
Why WRC drivers thought Rally Saudi Arabia was too...
No description available...
2d ago from Motorsport.com
Sebastien Ogier on matching Sebastien Loeb’s record...
No description available...
4d ago from Motorsport.com
Popular On GunnersToday.com
Roy Keane says 'league is over' after Chelsea loss...
Manchester United legend Roy Keane has said the title race is ‘over’...
58m ago from SportsKeeda.com
‘He’s the best player in the league' –...
Football pundit Stephen Warnock has called Arsenal midfielder Declan Rice...
58m ago from CaughtOffside.com
Roy Keane makes emphatic Premier League title...
Former Manchester United midfielder and seven time Premier League title...
38m ago from CaughtOffside.com
Video: Arsenal potentially given huge injury boost...
Arsenal have been handed a potentially significant injury boost as Declan...
1h ago from CaughtOffside.com
Comments
Hottest News
Tsunoda vows to work ‘harder than ever’ to return to F1...
Yuki Tsunoda isn’t going quietly. After Red... Read More »
58m ago from F1i.com
Piastri ‘the real danger' for Norris in finale
Dec.4 Lando Norris has been warned that his... Read More »
2h ago from OneStopStrategy.com
Toyota steps up: Haas rebrands as TGR Haas F1 Team for 2026!
Haas has taken a decisive stride into its next... Read More »
1h ago from F1i.com
