NNPC Profit Plummets 48% Amid Operational Disruptions

Nigerian National Petroleum Company (NNPC) Limited has reported a significant decline in profit after tax, falling 48% to N279 billion in July 2026 from N535 billion in June.

The company's revenue for the month stood at N3.087 trillion, with crude oil and condensate production averaging 1.68 million barrels per day. However, this was down from 1.72 million barrels per day recorded in June due to operational disruptions.

Natural gas production also declined to 7,489 million standard cubic feet per day in July, compared to 7,841 mmscf/d the previous month. Gas sales for July stood at 4,581 mmscf/d, down from 4,970 mmscf/d in June.