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Nigeria’s Daily Crude Oil Production to Hit 4 million bpd by 2020

Credit: Ventures Africa

Nigeria’s daily crude oil production is projected to hit 4 million barrels per day (bpd) by 2020, according to forecasts released by the Group Managing Director of Nigeria National Petroleum Corporation (NNPC), Andrew Yakubu, at a Conference of the Nigerian Society of Chemical Engineers. That will be an addition of 1.4 million bpd from the current 2.6 million bpd.

He also said that Nigeria’s crude oil reserve is expected to grow from 36 billion barrels – now, to 40 billion barrels circa 2020. Nigeria’s oil production has been affected by instability in the past, and has been steadily growing over the last year.

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