NNPC Reports N509bn Profit for September, says OB3 Gas Pipeline Now Operational

The Nigerian National Petroleum Company (NNPC) Limited says it posted a profit after tax of N509 billion in September 2026, noting that the Obiafu-Obrikom-Oben (OB3) gas pipeline has commenced operations following the completion of its River Niger crossing.

The NNPC announced the developments in its September monthly report released on Tuesday.

According to the report, the PAT increased from the N431 billion recorded in August.

The company said the OB3 gas pipeline “had been commissioned and operationalised”.

The oil firm said revenue for the month stood at N4.6 trillion, compared with N3.73 trillion in August, representing a 23.5 percent increase.

The company also said cumulative statutory payments to the federation account rose to N11.14 trillion between January and September, compared with N9.48 trillion recorded between January and August.

According to the report, average crude oil and condensate production increased to 1.7 million bpd in September from 1.69 million bpd in the preceding month.

The NNPC said natural gas production rose to 7,789 million standard cubic feet per day (mmscf/d) in September from 7,680 mmscf/d in August.

Crude oil and condensate sales also increased marginally to 24.63 million barrels in September, from 24.56 million barrels in August.

The report attributed the month-on-month increase in the September production largely to the restoration of output from the Obodo (OML 150) restart and other assets.

However, it noted that production remained constrained by unplanned downtime associated with facility reliability challenges, subsurface issues, flowline leaks, community protests, equipment failures, storage and tank-top constraints, and disruptions to export infrastructure.

The report noted that gas sales rose by 1.2 percent to 4,793 mmscf/d in September from 4,737 mmscf/d in the preceding month.

On infrastructure, the NNPC said upstream pipelines recorded 100 percent availability, while the OB3 and Ajaokuta-Kaduna-Kano (AKK) gas pipelines were 100 percent and 95 percent complete, respectively.

On its strategic efforts, the NNPC said it sustained production growth through the restoration of shut-in wells and facilities, production optimisation, and well interventions.

The company also said it was strengthening facility reliability and preventive maintenance, addressing subsurface and flowline integrity issues, and improving community engagement to minimise production deferments.

The NNPC added that petrol availability at its retail stations nationwide stood at 54 percent in September.