Since falling of oil price in June 2014, Tanzanians have been losers and winners as wells. Oil slump might be a bad news for Tanzanians but is a great to them also.
Articles discusses different consequences of low crude prices to Tanzanian citizens
Let’s face them
Why low crude prices is good for Tanzanians
Trust me or not a lot of Tanzanians are living happily with this crude low price as they use a car with cheap gasoline.This is because import expenses of processed oil product like diesel gasoline kerosene have decreased thanks to low oil prices Tanzania has no recent crude oil discovery. It depends on oil finished products imports.So low oil prices mean benefit to Tanzanians oil consumers
Minimize living cost of Tanzanians
Decline of oil prices means low transportation costs, cheaper food products as a result of lower living costs for an average Tanzanians
Why crude prices is bad for Tanzanians
On another hand, we are losers and victims of these low oil prices level due to the following reasons
Career in Tanzania oil and gas
Low crude prices are bad news for contemporary Tanzanian graduates who pursue careers in the oil and gas industry.In recent years petroleum engineering, petroleum geoscience, petroleum geology courses were seem as the ticket for the direct jobs to the Tanzania oil and gas companies.
However due to crude oil below $ 50 per barrel, these courses perceived as the ticket for unemployment offices
Layoffs(Tanzania oil and gas professionals)
Many Tanzanians oil and gas workers have been lost jobs. I think the layoff will increase if low crude prices prolonged
Low crude hurts Tanzania organizations that supply services to the oil and gas companies especially the upstream segment of the industry. Low crude price makes oil and gas companies do not buy anything from these organizations as they struggle to minimize expenses so as they can cope with low oil prices.
Read also :4-tips-for-local-organizations-to-sell-products-and-services-to-the-oil-and-gas-industry
This continued low oil prices has both positive and negative impacts to Tanzanians Oil slump do not affect the country as compared to oil exporters like South Sudan that depends on revenue generated from oil.
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