Politics
NNPC Ltd Posts N276Bn PAT In March 2026
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has reported a Profit After Tax (PAT) of N276 billion for January 2026, up by approximately 102.94% compared to the ₦136 Billion PAT posted in February 2026.
This figure was contained in the Monthly Report Summary for March 2026, released by the national oil company on Monday.
The report also highlighted key figures, including crude oil and condensate production, natural gas output, revenue, strategic initiatives during the period, and more.
The company generated revenue of NGN2,774 Trillion, up by 3.51% from the February 2026 report (₦2,680 Trillion).
The report also covers cumulative statutory payments of NGN2,888 Trillion to the government for January to March 2026.
According to the report, crude oil and condensate output rose to 1.56 mmbopd and gas production climbed to 7,731 mmscf/d, representing increases of approximately 3.31% and 3.66%, respectively, compared with the February 2026 report.
Gas production for the month reached its highest level in the trailing 12-month period covered by the report.
The report captures the early completion of the OML 118 Bonga Turnaround Maintenance, delivered 12 days ahead of schedule, as well as the completed welding of the 24 spur line to the Gwagwalada Independent Power Plant on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline, with drilling operations on the Obiafu-Obrikom-Oben (OB3) Gas Pipeline River Niger Crossing continuing as scheduled.
