The Nigerian National Petroleum Company Limited (NNPC Ltd) recorded a profit after tax of ₦535 billion in June 2026. This represents a ₦73 billion or 15.8% increase compared to the ₦462 billion profit posted in May 2026.
According to the company's Monthly Report Summary, NNPC generated ₦4.389 trillion in revenue during June. Additionally, the state-owned oil firm made statutory payments totaling ₦6.286 trillion between January and June 2026.
Oil Production and Sales Trends
Crude oil and condensate production experienced a marginal decline, dropping from 1.73 million barrels per day in May to 1.72 million barrels per day in June. The June output comprised 1.47 million barrels per day of crude oil and 250,000 barrels per day of condensate.
Despite the slight month-on-month drop, the June production reflects a steady recovery from earlier in the year. NNPC's oil output had previously fallen to 1.51 million barrels per day in February, before recovering to 1.56 million barrels per day in March and 1.68 million barrels per day in April.
In terms of sales, crude oil and condensate sales declined to 28.23 million barrels in June from 28.64 million barrels in October 2025. The June sales volume consisted of 27.23 million barrels of crude oil and one million barrels of condensate, which was higher than the 18.95 million barrels sold in May and 23.65 million barrels in April.
Gas Production Hits Annual High
Natural gas production rose to 7.841 billion standard cubic feet per day in June, marking the highest monthly volume recorded over a 12-month period. This represents a 12% increase from the 6.997 billion standard cubic feet per day recorded in October 2025.
Gas production has shown consistent growth, rising from 7.730 billion standard cubic feet per day in April to 7.774 billion standard cubic feet per day in May. Gas sales also grew to 4.970 billion standard cubic feet per day in June, up from 4.921 billion standard cubic feet per day in May, though remaining below the peak of 5.059 billion standard cubic feet per day recorded in March.
Infrastructure and Operational Outlook
NNPC attributed its upstream performance to operational disruptions, facility integrity issues, and subsurface challenges across several assets. However, these challenges were partially mitigated by production gains following the completion of turnaround maintenance on the Assa-Rumuekpe and the 28-inch Trans Niger Pipeline (TNP).
The report highlighted strong pipeline availability during the month, with the Obiafu-Obrikom-Oben (OB3) Gas Pipeline recording 98% availability and the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline achieving 94% availability. Upstream pipeline infrastructure maintained 100% availability.
NNPC is currently working with stakeholders to accelerate activities on the AKK Gas Pipeline to achieve early gas delivery to Abuja in 2026. Final tie-in works are also ongoing on the OB3 River Niger Crossing to enable first gas by August 2026.
