Nigeria sets 2020 as new oil capacity expansion target

摘要

Abuja-Nigeria now plans to increase its oil reserves to 40 billion barrels and production capacity to 4 million b/d by 2020, after its pre- vious deadline of 2010 was missed due to a combination of violence in the main oil-produc- ing Niger Delta region and a lack of funding. The new target, given by a senior official at state-owned Nigerian National Petroleum Corporation February 21, came as Nigeria's oil minister Diezani Alison-Madueke revealed that Abuja had come up with a new draft of long-delayed oil sector reform legislation.