Get Guardian on GoogleThe Nigerian National Petroleum Company (NNPC) Limited has reported a profit after tax of N509 billion in September 2026.
The NNPCL gave the update in its September monthly report released on Tuesday, noting that the Obiafu-Obrikom-Oben (OB3) gas pipeline has commenced operations following the completion of its River Niger crossing.
Announcing the development, the NNPCL said profit after tax increased from the N431 billion recorded in August, with the company also revealing that the OB3 gas pipeline “had been commissioned and operationalised”.
According to the oil company, revenue for the month stood at N4.6 trillion, compared with N3.73 trillion in August, representing a 23.5 percent increase.
“Cumulative statutory payments to the federation account rose to N11.14 trillion between January and September, compared with N9.48 trillion recorded between January and August,” it said.
“Average crude oil and condensate production increased to 1.7 million bpd in September from 1.69 million bpd in the preceding month.”
The NNPCL stated that its natural gas production rose to 7,789 million standard cubic feet per day (mmscf/d) in September from 7,680 mmscf/d in August.
It revealed that crude oil and condensate sales also increased marginally to 24.63 million barrels in September, from 24.56 million barrels in August, with the report attributing the month-on-month increase in the September production largely to the restoration of output from the Obodo (OML 150) restart and other assets.
“Production remained constrained by unplanned downtime associated with facility reliability challenges, subsurface issues, flowline leaks, community protests, equipment failures, storage and tank-top constraints, and disruptions to export infrastructure,” the NNPCL said, with the report noting that gas sales rose by 1.2 percent to 4,793 mmscf/d in September from 4,737 mmscf/d in the preceding month.
On infrastructure, the NNPCL said upstream pipelines recorded 100 percent availability, while the OB3 and Ajaokuta-Kaduna-Kano (AKK) gas pipelines were 100 percent and 95 percent complete, respectively, while on strategic efforts, the company said it sustained production growth through the restoration of shut-in wells and facilities, production optimisation, and well interventions.
“We are also strengthening facility reliability and preventive maintenance, addressing subsurface and flowline integrity issues, and improving community engagement to minimise production deferments,” it said, with the NNPCL adding that petrol availability at its retail stations nationwide stood at 54 percent in September.
