This Day (Lagos)
10 June 2008
Nigeria and the remaining 12 member countries of the Organisation of Petroleum Exporting Countries (OPEC) have concluded plans to commit more than $160 billion (about N19.20 trillion) into crude oil capacity expansion programmes, which are expected to yield additional 500 million barrels per day (bpd) of crude oil to world's production by 2012.
[ See Article ]
Current production is ~ 85M Barrels per day. This will be increased by 500 M Barrels per day.
The writer is either completely ignorant, dutifully writes whatever he has been told, or both.