The Nigerian National Petroleum Company Limited (NNPC Ltd) made a profit after tax of ₦535 billion in June 2026. Its crude oil and condensate production increased to 1.72 million barrels per day, according to the company’s latest monthly report.
This profit is ₦73 billion, which is 15.8 percent higher than the ₦462 billion reported in May.
The company’s Monthly Report Summary, published on Friday, showed that NNPC earned ₦4.389 trillion in revenue for the month. It also made statutory payments of ₦6.286 trillion between January and June.
The report showed that crude oil and condensate production dropped from 1.73 million barrels per day in May to 1.72 million barrels per day in June.
Of this June output, there were 1.47 million barrels per day of crude oil and 250,000 barrels per day of condensate.
Even though the June figures were slightly lower than the 1.73 million barrels per day in May, they were better than the 1.68 million barrels per day produced in April.
The company’s oil production fell to 1.51 million barrels per day in February. It recovered to 1.56 million barrels per day in March and then 1.68 million barrels per day in April.
Gas production increases
NNPC reported that natural gas production rose to 7.841 billion standard cubic feet per day in June. This was the highest monthly volume recorded in the past year.
Gas production increased from 7.774 billion standard cubic feet per day in May and 7.730 billion standard cubic feet per day in April.
The June figure was about 12 percent higher than the 6.997 billion standard cubic feet per day recorded in October 2025.
Gas sales were 4.970 billion standard cubic feet per day in June. This was up from 4.921 billion standard cubic feet per day in May.
But the June gas sales were lower than the 5.059 billion standard cubic feet per day in March, which was the highest during this review period.
Decline in oil sales
Crude oil and condensate sales fell to 28.23 million barrels in June. This was down from 28.64 million barrels in October 2025, according to the report.
The June sales included 27.23 million barrels of crude oil and one million barrels of condensate.
However, this volume was higher than the 18.95 million barrels recorded in May and the 23.65 million barrels reported in April.
NNPC noted that its upstream operations faced challenges due to operational disruptions, facility integrity issues, and subsurface problems across several assets.
“However, performance improved due to production recovery after completing the Assa-Rumuekpe and 28-inch TNP Turnaround Maintenance,” the company stated.
The report revealed that the Obiafu-Obrikom-Oben (OB3) Gas Pipeline had 98 percent availability in June. Meanwhile, the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline achieved 94 percent availability.
NNPC reported 100 percent availability for its upstream pipeline infrastructure.
The company is working with relevant stakeholders to speed up activities on the AKK Gas Pipeline to ensure early gas delivery to Abuja in 2026. It said final tie-in works are ongoing on the OB3 River Niger Crossing to enable first gas by August 2026.
NNPC stated that its main focus is to increase production across its assets. This includes improving facility reliability and availability, reducing unscheduled downtime, optimizing crude oil exports, and speeding up major upstream projects.
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