NNPCL Posts Highest Profit in Over 10 Months

The Nigerian National Petroleum Company Limited (NNPCL) has recorded its highest profit after tax in over 10 months, reaching N535 billion in June. This represents a 15.8% increase from May's N462 billion and surpasses the August 2025 figure of N539 billion.

The NNPC attributed the slight decline in crude oil and condensate production to operational disruptions, facility integrity issues, and subsurface challenges across several assets. However, natural gas production rose by 0.86% to 7.841 million standard cubic feet per day.

The company's cumulative statutory payments to the Federation for the first six months of 2026 reached N6.29 trillion, while its crude oil and condensate production averaged 1.72 million barrels per day in June. The Obiafu-Obrikom-Oben (OB3) Gas Pipeline is nearing completion at 98%, with final tie-in works ongoing towards achieving first gas in August.