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AFREN CUTS PRODUCTION FORECAST
Africa-focused oil and gas firm Afren has cut its 2011 production guidance by at least 25 per cent due to facilities stoppages, as it warned its output level at the year-end would be lower than previously forecast. The company, operating mainly in Nigeria, said it expected full-year production to average between 25,000 and 30,000 barrels of oil per day.