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Nigerian National Petroleum Company (NNPC) Limited posted a profit after tax of N535 billion in June 2026 despite a marginal decline in crude oil and condensate production during the month.
The company’s June 2026 Monthly Report showed that revenue rose to N4.389 trillion, while crude oil and condensate production averaged 1.72 million barrels per day (mbpd), slightly below the 1.73 mbpd recorded in May.
NNPC attributed the decline in production to operational disruptions, facility integrity issues and subsurface challenges across several oil assets.
However, it said the impact was partly mitigated by improved output following the completion of maintenance works on the Assa-Rumuekpe project and the 28-inch Trans Niger Pipeline.
The report indicated that natural gas production increased to 7,841 million standard cubic feet per day (mmscf/d) in June from 7,774 mmscf/d recorded in May.
Gas sales also recorded growth, rising to 5,059 mmscf/d compared to 4,978 mmscf/d in the previous month.
NNPC further disclosed that statutory payments made between January and June 2026 stood at N6.286 trillion.
The company also reported 100 per cent upstream pipeline availability, while work progressed on major gas infrastructure projects aimed at strengthening domestic gas supply.
According to the report, the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project is advancing steadily, with early gas delivery to Abuja expected before the end of 2026.
It added that final tie-in works on the Obiafu-Obrikom-Oben (OB3) Gas Pipeline River Niger crossing are ongoing, with first gas projected for August 2026.
NNPC stated that its operational priorities remain boosting crude oil and gas production through improved facility reliability, reduction of unplanned shutdowns, optimisation of crude export operations and accelerated development of new production opportunities.
On its corporate social responsibility initiatives, the company said the NNPC Foundation commissioned a 1.5 Tesla Magnetic Resonance Imaging (MRI) machine at the National Orthopedic Hospital, Dala, Kano, where 40 patients received free MRI scans.
The foundation also hosted the second NNPC Foundation/Pan-Atlantic University Symposium on Energy and Sustainable Environmental Communication and trained 81,748 National Youth Service Corps (NYSC) members in financial literacy, bringing the total number of beneficiaries under the programme to more than 1.32 million nationwide.
NNPC noted that all production, sales and financial figures contained in the report remain provisional and are subject to reconciliation with relevant stakeholders.
