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Tuesday, March 19, 2019
Nigeria’s state-run oil firm NNPC said that its subsidiary, Nigerian Petroleum Development company (NPDC), is targeting oil production of 500,000 barrel per day by 2020.
The state-run firm disclosed this in its December monthly Financial and Operations Report released in Abuja March 17.
The report said that the NPDC recently had average weekly production of 332,000 bpd which was the main driver of the positive outlook for the corporation.
“NNPC posted trading surplus of ₦12.13 billion in December last year, a leap from recent past performances. This is due to the positive swing to higher revenue numbers posted by the corporation’s upstream subsidiary, NPDC. The NPDC targets 500,000 bpd production in 2020,” the report said.
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