The Nigerian National Petroleum Company Limited (NNPC) reported a profit after tax of N535 billion in June 2026, representing a 15.8 per cent increase from the N462 billion posted in May, despite a slight dip in crude oil and condensate production.
According to the company’s latest monthly financial and operational report, revenue for June stood at N4.389 trillion, while total statutory remittances to the Federation Account reached N6.286 trillion between January and June 2026.
Although average crude oil and condensate production declined marginally from 1.73 million barrels per day (mbpd) in May to 1.72 mbpd in June, the company noted that production remained higher than the 1.70 mbpd recorded in the corresponding period of 2025.
NNPC attributed the slight decline to operational interruptions, integrity issues at some facilities and subsurface challenges affecting several producing assets. It, however, said these setbacks were partly offset by increased output following the completion of maintenance activities on the Assa-Rumuekpe project and the 28-inch Trans Niger Pipeline.
Crude oil and condensate sales recorded a significant improvement during the month, rising to 28.23 million barrels from 18.95 million barrels in May. The sales volume also exceeded the level achieved in June 2025.
Gas operations also recorded modest growth. Daily gas production increased to 7,841 million standard cubic feet, while gas sales rose to 4,970 million standard cubic feet per day, reflecting improved market performance compared with the previous month.
On infrastructure development, NNPC disclosed that the Obiafu-Obrikom-Oben (OB3) Gas Pipeline is now 98 per cent complete, with final tie-in works underway ahead of the planned first gas delivery in August.
The company also said construction of the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline had reached 94 per cent completion, adding that work is progressing towards delivering gas to Abuja before the end of the year.
NNPC stated that it remains focused on sustaining production growth through improved facility reliability, reduced unplanned downtime, more efficient crude export operations and accelerated development of new production opportunities.
The report further indicated that upstream pipeline availability remained at 100 per cent throughout June, while petrol availability across NNPC Retail Limited filling stations stood at 53 per cent. It noted that all production, sales and financial figures remain provisional pending reconciliation with relevant stakeholders.
