The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has disclosed that Nigeria is targeting 2.4 million barrels of crude oil per day (mbpd) in output in 2016, ThisDay reports.
Kachikwu said this recently while outlining his broad strategy for the country’s oil and gas sector for the year. He said that even though the target of 2.4mbpd was not used as a production benchmark for the 2016 budget, he explained that the production volume would be pursued by his ministry.
The minister however noted that about 200,000bpd of the planned total would be dedicated to domestic refining, while 2.2mbpd would be kept for export. According to him, the country would have already been doing 2.3mbpd, but for the attack that was recorded on one of Shell’s Forcados pipelines recently.