Recession will lead to low demand for petroleum products, stall contracts - oil experts

Recession will lead to low demand for petroleum products, stall contracts – oil experts

Tunji Oyabanji, managing director of 11 plc stated the situation would be tough for downstream subsector as competition would be stiffer.

Consumption of petroleum products will go down and competition will get stiffer just as pressure is expected on earnings because of the current recession according to oil and gas operators. At the same time in the upstream of the industry, it is expected that more projects would be put on hold an

```

Members Only

Login or create an account to continue

This article is available to registered BusinessDay readers. Please login if you already have an account, or create a new account to continue reading.

New to BusinessDay? Register now and start reading.

```