Nigeria’s oil industry regulator, the Department of Petroleum Resources, said Oct. 13 that the country is now aiming to increase its oil reserves, including condensates, substantially to 40 billion barrels by 2025. Receive daily email alerts, subscriber notes & personalize your experience. Register Now DPR Director Sarki Auwalu said the government would achieve its target through the expected upsurge in exploration programs from the small, marginal fields soon to be handed out to investors and the planned reform of oil sector that would stimulate investment. Nigeria crude reserves, which stood at 38 billion barrels in 2015, have steadily declining over the past five years due to a combination of factors including lack of funds, security challenges in the main oil-producing Niger Delta region and uncertainty […]