NNPC says its profit rose by 15% to N535bn in June
NNPC says its profit rose by 15% to N535bn in June
The Nigerian National Petroleum Company (NNPC) Limited says its profit after tax (PAT) rose to N535 billion in June.
NNPC announced the figure in its June ‘Monthly Report Summary’ published on Friday.
The figure represents an increase of 15.8 percent compared to the N462 billion recorded in May.
According to the monthly report, NNPC generated N4.38 trillion in revenue during the month, up by 1.15 percent from the N4.33 trillion recorded in May.
The report also showed that the company remitted N6.2 trillion to the federation account between January and June 2026.
The remittance dropped by 10.91 percent year-on-year, when compared to the N6.96 trillion remitted in the first half of 2025.
NNPC said crude oil and condensate production dipped marginally to 1.72 million barrels per day (bpd) in June from 1.73 million bpd in May.
The company attributed the decline to operational disruptions, facility integrity issues and subsurface challenges across several assets.
According to the report, natural gas production rose to 7.84 million standard cubic feet per day (mmscf/d) from 7.77 mmscf/d in May — representing a 0.86 percent increase, continuing the company’s upward trajectory in gas production.
On infrastructure projects, NNPC said the Obiafu-Obrikom-Oben (OB3) gas pipeline progressed to 98 percent completion, with final tie-in works ongoing towards achieving first gas in August 2026.
The company added that the construction and installation activities on the Ajaokuta-Kaduna-Kano (AKK) gas pipeline advanced to 94 percent completion, supporting the target of early gas delivery to Abuja in 2026.
