By JKNewsMedia
PROFIT AFTER tax at Nigerian National Petroleum Company (NNPC) Limited rose to N276 billion in March 2026, reflecting a 102.9 percent increase from the N136 billion recorded in February, as detailed in the company’s Monthly Report Summary.
JKNewsMedia.com reports that the national oil firm disclosed that statutory payments between January and March 2026 totalled N2.88 trillion.
Oil and condensate production for March averaged 1.56 million barrels per day. The company stated that the figure represents a slight decline from the 1.64 million barrels per day recorded in January but an increase from the 1.51 million barrels per day produced in February.
Natural gas production reached 7.73 million standard cubic feet per day during the period under review.
The report showed a rise from 7.28 million and 7.45 million standard cubic feet per day recorded in January and February respectively.
Upstream pipeline availability stood at 76 percent, while premium motor spirit availability at NNPC Retail stations was reported at 56 percent.
On infrastructure, the company stated that the Obiafu Obrikom Oben gas pipeline project is 96 percent complete. It added that drilling operations at the River Niger crossing are ongoing as scheduled.
The Ajaokuta Kaduna Kano gas pipeline project has reached 93 percent completion.
The company confirmed it has completed welding of the 24 inch spur line to the Gwagwalada Independent Power Plant (GIPP) and noted that significant progress has been made on outstanding mainline pre commissioning works.
NNPC stated it will continue to strengthen production resilience by executing restoration plans focused on improving asset reliability, resolving evacuation constraints and implementing other targeted recovery initiatives.
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