NNPC reports N431bn profit after tax in August 2026 as revenue rises to N3.73tn and crude oil and condensate production reaches 1.69m bpd.
The Nigerian National Petroleum Company (NNPC) Limited has reported a profit after tax of N431 billion in August 2026, a 54.5 per cent increase from the N279 billion recorded in July, as crude oil and condensate production rose marginally to 1.69 million barrels per day (bpd).
The company disclosed this in its monthly report summary for August, published on Monday, adding that revenue increased by 21.1 per cent to N3.73 trillion from N3.08 trillion in July.
NNPC also reported that cumulative statutory payments rose by 19.8 per cent to N9.48 trillion for January to August, compared with N7.91 trillion recorded for January to July.
Crude Oil and Gas Production Increase
According to the report, average crude oil and condensate production increased to 1.69 million bpd in August from 1.68 million bpd in July.
Gas production also rose to 7.68 million standard cubic feet per day (mmscf/d) from 7.48 million mmscf/d in the preceding month.
Crude oil and condensate sales increased to 24.56 million barrels in August, up from 22.53 million barrels recorded in June, representing a 9 per cent rise. The report also showed that gas sales grew by 3.3 per cent to 4.73 million mmscf/d in August from 4.58 million mmscf/d in July.
NNPC Reports Progress on Gas Pipeline Projects
On infrastructure, NNPC said its upstream pipelines recorded 100 per cent availability during the period, while the Obiafu-Obrikom-Oben (OB3) and Ajaokuta-Kaduna-Kano (AKK) gas pipelines were 100 per cent and 95 per cent complete, respectively.
The company said construction work on the AKK pipeline continued, with stakeholders working to advance construction and installation activities aimed at delivering gas to Abuja before the end of 2026.
NNPC also announced that the OB3 pipeline had reached a major milestone following the successful commissioning and commencement of full operations at the River Niger crossing. The development is expected to facilitate the integration of Nigeria’s eastern and western gas network systems.
Company Cites Efforts to Improve Production
NNPC attributed its operational progress to efforts to maintain reliable crude oil evacuation, minimise production deferments and improve asset reliability through proactive maintenance.
The company said it had accelerated the resolution of infrastructure integrity constraints and improved coordination of drilling and shutdown activities.
It added that it restored deferred production, optimised tank-top and export management, and strengthened production assurance and accountability at the asset level.
