Nigeria's Oil Production Drops to 1.68 Million Barrels per Day in July

The Nigerian National Petroleum Company Limited (NNPCL) has reported a decline in crude oil and condensate production to 1.68 million barrels per day in July.

This is according to the company's July 2026 operational and financial performance report, which notes that production declined from 1.73 million barrels per day in May to 1.72 million barrels per day in June and further to 1.68 million barrels per day in July.

The NNPCL attributed the decline in oil production to operational disruptions across several assets, including facility outages, equipment unavailability, pipeline incidents, and production constraints.

The company recorded a revenue of N3.09tn and profit after tax of N279bn during the period under review, with remittances to the Federation Account totaling N7.91tn between January and July 2026.