NNPCL Reports N276bn Profit in March 2026 Amid Oil Output Rise

The Nigerian National Petroleum Company Limited (NNPCL) announced a profit of N276 billion for March 2026, marking a significant increase from its February earnings. The company reported generating N2.7 trillion during the month, with oil production reaching 1.56 million barrels per day.

This output was supported by a rise in gas production to 7.731 million standard cubic feet per day, the highest recorded in the past 12 months. The report indicated that crude oil output remained stable compared to February, which also recorded 1.56 million barrels per day.

NNPCL attributed the improved production levels to operational efficiency, particularly in offshore assets, and the early completion of maintenance on the OML 118 Bonga facility. However, the report acknowledged that pipeline disruptions significantly impacted output during the period, particularly due to the Forcados pipeline outage from February 20 to March 25.

Despite these challenges, NNPCL is focused on implementing recovery strategies to stabilize output.