The Nigerian National Petroleum Company Limited (NNPC Ltd.) posted a profit after tax of ₦535 billion in June 2026, even as operational disruptions, facility integrity issues and subsurface challenges weighed on the country’s crude oil production.
The national oil company disclosed in its June Monthly Report Summary that it generated ₦4.389 trillion in revenue during the month, while statutory payments for the first six months of the year reached ₦6.286 trillion, underscoring its continued contribution to government finances.
The report showed that crude oil and condensate production stood at 1.72 million barrels per day (mbopd) in June, marginally lower than the 1.73 mbopd recorded in May.
Natural gas production, however, rose to 7,841 million standard cubic feet per day (mmscf/d), the highest level recorded over the 12 months captured in the report.
NNPC attributed the decline in crude production to operational disruptions, facility integrity issues and subsurface challenges affecting several producing assets during the month.
“June production performance was impacted by operational disruptions, facility integrity issues, and subsurface challenges across several assets,” the company said.
It added that production losses were partly offset by output ramp-up following the completion of the Assa-Rumuekpe project and turnaround maintenance on the 28-inch Trans Niger Pipeline.
Despite the production constraints, the company maintained strong financial performance, reporting a monthly profit after tax of ₦535 billion. The report, however, did not provide a breakdown of the factors that drove the earnings.
As part of efforts to strengthen future production, NNPC said it remains focused on improving facility reliability and availability, minimising unscheduled downtime, optimising crude export operations and accelerating production opportunities across its upstream asset portfolio.
The report also highlighted progress on key gas infrastructure projects expected to support domestic gas supply. The Ajaokuta-Kaduna-Kano (AKK) gas pipeline reached 94 per cent completion, while the Obiafu-Obrikom-Oben (OB3) pipeline was 98 per cent complete, with final tie-in works ongoing to achieve first gas across the River Niger crossing in August 2026.
The company said its strategic priority remains sustaining upstream production growth while advancing critical gas infrastructure to support Nigeria’s energy transition and domestic industrialisation agenda.
