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Nigeria plans output hike

Nigerian Petroleum Development Company (NPDC), a subsidiary of state-owned Nigerian National Petroleum Corporation (NNPC), plans to increase production to 300,000 b/d by 2018 from the current level of 180,000 b/d.

NPDC said the planned increase in its equity production was part of the company’s ‘transformation’, Reuters reported.

NPDC added that production was expected to reach 400,000 b/d and 500,000 b/d by 2019 and 2020 respectively.