NNPCL Reports Lower Oil Output in February Amid N2.68 Trillion Revenue

The Nigerian National Petroleum Company Limited (NNPCL) has noted a decline in its oil production figures for February 2026. The company’s monthly report indicates that output fell to 1.51 million barrels per day, a decrease from the 1.64 million barrels per day recorded in January.

The report attributes this reduction in production to several operational factors. These include the temporary shutdown of the Trans Forcados Pipeline due to integrity concerns, challenges encountered during the restart of the Stardeep Agbami GTC 2 & 3 following scheduled maintenance, delays in completing the Sterling Oguali flow station, and constraints in ramping up production from the Enyie wells attributed to sludge management issues, among other operational difficulties.

However, the NNPCL highlighted that its total revenue for February reached N2.68 trillion. This figure represents an increase of N110 billion compared to the N2.57 trillion generated in January. The company reported a post-tax profit of N136 billion and made statutory payments amounting to N1.8 trillion.

NNPCL stated its commitment to enhancing production resilience and restoring output levels. This will be achieved through improved asset reliability, quicker resolution of evacuation bottlenecks, timely implementation of critical infrastructure projects, and strengthened collaboration with industry operators and other stakeholders to drive disciplined and accountable production recovery across its key assets.

Regarding the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project, construction and installation activities are progressing as planned, with the objective of ensuring early gas delivery to Abuja. Additionally, the Obiafu-Obrikom-Oben (OB3) Gas Pipeline project has reached the River Niger crossing phase, with ongoing drilling operations being conducted in partnership with key stakeholders.