Oil Production Drops As NNPCL Generates N2.68trn In January

The Nigerian National Petroleum Company Limited (NNPCL) has announced a slight drop in oil production in February 2026.

In its monthly report, the oil firm said production dropped to 1.51 million barrels per day from the 1.64 million barrels recorded in January.

It, however, said the drop in production was due to “the combined effect of the outage of the Trans Forcados Pipeline (TFP) due to integrity issues; start-up challenges of Stardeep Agbami GTC 2 & 3 following completion of turnaround maintenance; delayed completion of the sterling Oguali flow station and production ramp-up constraints from Enyie wells due to sludge management issues, among other operational challenges.”

According to the report, the production in January included 1.27 million barrels of crude oil and 240,000 condensate.

It added that the total revenue during the month was N2,68trn, an increase of N110bn from the N2.57trn it generated in January.

It noted that its profits after tax was N136bn while it paid 1,8trn as statutory payments.

It said the company “continues to strengthen production resilience and restore output through improved asset reliability, faster resolution of evacuation constraints, timely delivery of critical infrastructure, and deepen collaboration with operators and other stakeholders to drive disciplined and accountable production recovery across key asset.”

On the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline, it said progressed construction and installation works aimed at delivering early gas to Abuja is on course.

It also noted that the Obiafu-Obrikom-Oben (OB3) Gas Pipeline project is at the River Niger crossing stage, with drilling operations ongoing in collaboration with key stakeholders.