11:02 - 26.10.2017

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Azerbaijan's Energy Minister Parviz Shahbazov has received a delegation led by BP Regional President for Azerbaijan, Georgia and Turkey Gary Jones.

The Ministry of Energy of Azerbaijan informs that during the meeting BP chief economist for Russia and CIS Vladimir Drebentsov conducted a presentation of the reports on the themes "Statistical Analysis 2017" and "Energy Outlook 2035".

"According to BP forecasts, in the next few years the demand for oil will increase and oil, as energy resource, will retain its leading position until 2040. But, reduction of the decisive role of oil in the future amid the new global trends and technological changes is inevitable," the report says.

During the meeting Minister Shahbazov underlined the significance of BP’s position in the global energy market, as well as in Azerbaijan and said that the signing of a new agreement on oilfield block Azeri-Chirag-Guneshli will ensure the long-term cooperation.

"Gary Jones told about works done within the framework of energy projects and stressed the need for close cooperation between the Ministry of Energy and BP," the Ministry reported.