The Minister of State for Petroleum Resources, Timipre Sylva, says counting on the current harmony between the executive and the legislature, the government is optimistic that the Petroleum Industry Bill will be passed by May this year. He reiterated the present administration's commitment to developing the petroleum industry and improving the relationship between the industry and the ordinary citizens.

Addressing journalists in Abuja yesterday, Sylva said Nigeria which used to produce two million barrels of oil per day, targeted increasing production up to at least 3m bpd. He said the ministry also planned to curtail oil and consider the incorporation of the NNPC and its joint venture companies 'so as to be a responsible commercial enterprise.'

He said there was possibility of conducting bid rounds for marginal oil fields in 2020.

© Pakistan Press International, source Asianet-Pakistan