The Nigerian National Petroleum Corporation (NNPC) targets 3 mb/d of crude oil production and 40 Gbl of reserved by 2023. According to the company, Nigerian petroleum production stood at nearly 1.87 mb/d in May 2019, while reserves of crude oil reached at 28.2 Gbl at end-2018. For the year 2020, the federal budget anticipates crude oil production attaining 2.2 mbl/d.
According to WindEurope’s latest wind capacity forecast (Wind Energy Outlook to 2023), new wind installations in Europe will depend on the ambitions presented in the National Energy & Climate Plans (NECPs) and on project permitting issues that have already led to under-subscribed auctions.
The Government of the Netherlands has announced that it will not seek to offset the end of gas extraction at the Groningen field in 2022 by increasing production from the 240 small gas fields in the country. In 2018, these fields accounted for approximately half of the total gas production in the Netherlands, and their gas production is declining regularly (more than 1 bcm decrease between 2017 and 2018).
Ecuador announced it will leave OPEC in January 2020 as the Andean economy seek to ramp up oil production to increase hydrocarbon revenue in a sluggish economic context. The country joined OPEC in 1973, departed in 1992 and restarted its membership in 2007.