Falling oil price sets up winners and losers amid economic turmoil

Plunging oil prices are not proving a sole negative for the Nigerian economy, as new investors prepare to capitalise on cheaper assets amid an economic turmoil that threatens to bankrupt at least five states.

From bankers to oil barons and profligate Nigerian state governors who refused to save for the proverbial rainy day, the 45 percent slump in crude oil this year presents opportunity as well as pitfalls.

“Nigerian oil assets are much cheaper now and present a good time to

3rd int’l conference on gas, refining, petrochemicals holds in Port Harcourt

Participants drawn from the oil and gas industry, petrochemicals, fertiliser, the academia will gather today at the Hotel Presidential, Port Harcourt, Rivers State, for the 3rd edition of the international conference on gas, refining and petrochemicals.

This time, the conference participants under the Institute of Petroleum Studies (IPS), University of Port Harcourt, would include experts from the US and UK, most of whom would todaypresent technical papers on the current trends in the gas, refining, petrochemicals and fertiliser industries.

According to Godwin J. Igwe, a professor of Chemical Engineering, with many decades of teaching experience at the prestigious Texas A&M University in Texas and a World Bank McNamara Fellow, USA, the conference would be exploring the