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From Adanna Nnamani, Abuja
The Nigerian National Petroleum Company (NNPC) Limited, said it has recorded a profit after tax of N535 billion in June 2026, representing a 15.8 per cent increase from the N462 billion posted in May, as the national oil company sustained strong revenue performance despite a slight decline in crude oil production.
The figures were contained in the company’s Monthly Financial and Operations Report for June 2026, released on Friday.
According to the report, NNPC generated total revenue of N4.389 trillion during the month, while cumulative statutory payments to the Federation Account between January and June 2026 rose to N6.286 trillion, reflecting the company’s continued contribution to government revenue.
The report showed that average crude oil and condensate production dipped marginally to 1.72 million barrels per day (mmbopd) in June from 1.73 million barrels per day recorded in May.
NNPC attributed the decline to operational disruptions, facility integrity issues and subsurface challenges affecting several production assets.
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In contrast, natural gas production maintained an upward trajectory, rising to 7.841 million standard cubic feet per day from 7.774 million standard cubic feet per day recorded in May, representing a 0.86 per cent increase.
The company also reported significant progress on its strategic gas infrastructure projects aimed at boosting domestic gas supply and supporting industrialisation.
According to the report, the Obiafu-Obrikom-Oben (OB3) Gas Pipeline has reached 98 per cent completion, with final tie-in works currently underway ahead of the planned First Gas delivery in August 2026.
Similarly, construction and installation works on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline have progressed to 94 per cent completion, with the project remaining on track to commence early gas delivery to Abuja before the end of the year.
The company said the progress recorded on the OB3 and AKK gas pipelines would further strengthen domestic gas utilisation, improve energy security and support economic growth across the country.
