The Nigerian National Petroleum Company Limited (NNPCL) has reported a Profit After Tax (PAT) of ₦535 billion for June 2026, representing a 15.8 per cent increase from the ₦462 billion recorded in May.
The state-owned oil company disclosed this in its June 2026 financial statement released on its official X account on Friday.
According to the report, NNPCL generated ₦4.389 trillion in revenue during the month, reflecting the company’s continued strong financial performance despite slight declines in crude oil production.
The company also revealed that its cumulative statutory payments to the Federation from January to June 2026 rose to ₦6.286 trillion, underscoring its significant contribution to Nigeria’s revenue generation.
On production, NNPCL said average crude oil and condensate output declined marginally to 1.72 million barrels per day (mmbopd) in June from 1.73 million barrels per day recorded in May.
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The company attributed the slight drop to operational disruptions, facility integrity issues and subsurface challenges affecting several production assets.
In contrast, natural gas production recorded modest growth, increasing to 7.841 million standard cubic feet per day (mmscf/d) from 7.774 mmscf/d in May, representing a 0.86 per cent increase.
NNPCL also provided updates on key gas infrastructure projects aimed at boosting domestic gas supply.
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 targeted First Gas delivery in August 2026.
Similarly, construction and installation activities on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline have advanced to 94 per cent completion, supporting the company’s target of commencing early gas delivery to Abuja later in 2026.
The latest financial results highlight NNPCL’s improving profitability and continued investments in critical gas infrastructure, as the company seeks to strengthen Nigeria’s energy sector and enhance revenue generation.
