Nigeria will increase its oil production to 1.8 million barrels per day next year, Nigeria National Petroleum Corporation (NNPC) Group Managing Director Maikanti Baru said yesterday.
The country will also raise condensate production to 0.5 million bpd, he added, according to Reuters.
Nigeria produces 1.6 million bpd of oil and 0.4 million bpd of condensate.
Baru said he expected the NNPC to sign deals with consortiums this month to revamp long-neglected oil refineries.
NNPC is in the final stages of talks with consortiums including top traders, energy majors and oil services companies to revamp its long-neglected oil refineries in an effort to reduce its reliance on imported fuel. Baru said he expected deals to be signed this month.
