The Nigerian National Petroleum Company Limited (NNPCL) has declared a profit of N1.054 trillion for the month of May 2025 which indicates a 40% increase from the N748 billion it recorded in April.
The oil company disclosed the figure in its Monthly Report Summary for May, released on Tuesday. It also reported that it made N6.008 trillion in revenue for the same period.
Between January and May 2025, the NNPCL said it remitted N5.583 trillion to the federal government.
It explained that the figures are provisional and unaudited, and only reflect the company’s direct operations. Data from independent oil and gas operators are compiled separately by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
The report also showed that crude oil and condensate production in May averaged 1.629 million barrels per day, while average daily gas production stood at 7.35 million standard cubic feet.
On infrastructure, the NNPCL said it carried out turnaround maintenance on key assets like the Trans Escravos Pipeline, OML 40’s Opuama flow station, and OML 17’s Obigbo and Agbada stations.
For the refineries in Port Harcourt, Warri, and Kaduna, the report said reviews are still ongoing. The company also noted progress on the Ajaokuta–Kaduna–Kano (AKK) gas pipeline, particularly efforts to fix engineering issues at the River Niger crossing.
It added that technical assessments are ongoing on the OB3 River Niger section to determine the most effective execution plan.
NNPCL said its focus remains on expanding domestic energy infrastructure while staying profitable amid global oil market volatility.
The Nigerian National Petroleum Company Limited (NNPCL) has declared a profit of N1.054 trillion for the month of May 2025 which indicates a 40% increase from the N748 billion it recorded in April.
The oil company disclosed the figure in its Monthly Report Summary for May, released on Tuesday. It also reported that it made N6.008 trillion in revenue for the same period.
Between January and May 2025, the NNPCL said it remitted N5.583 trillion to the federal government.
It explained that the figures are provisional and unaudited, and only reflect the company’s direct operations. Data from independent oil and gas operators are compiled separately by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
The report also showed that crude oil and condensate production in May averaged 1.629 million barrels per day, while average daily gas production stood at 7.35 million standard cubic feet.
On infrastructure, the NNPCL said it carried out turnaround maintenance on key assets like the Trans Escravos Pipeline, OML 40’s Opuama flow station, and OML 17’s Obigbo and Agbada stations.
For the refineries in Port Harcourt, Warri, and Kaduna, the report said reviews are still ongoing. The company also noted progress on the Ajaokuta–Kaduna–Kano (AKK) gas pipeline, particularly efforts to fix engineering issues at the River Niger crossing.
It added that technical assessments are ongoing on the OB3 River Niger section to determine the most effective execution plan.
NNPCL said its focus remains on expanding domestic energy infrastructure while staying profitable amid global oil market volatility.
The Nigerian National Petroleum Company Limited (NNPCL) has declared a profit of N1.054 trillion for the month of May 2025 which indicates a 40% increase from the N748 billion it recorded in April.
The oil company disclosed the figure in its Monthly Report Summary for May, released on Tuesday. It also reported that it made N6.008 trillion in revenue for the same period.
Between January and May 2025, the NNPCL said it remitted N5.583 trillion to the federal government.
It explained that the figures are provisional and unaudited, and only reflect the company’s direct operations. Data from independent oil and gas operators are compiled separately by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
The report also showed that crude oil and condensate production in May averaged 1.629 million barrels per day, while average daily gas production stood at 7.35 million standard cubic feet.
On infrastructure, the NNPCL said it carried out turnaround maintenance on key assets like the Trans Escravos Pipeline, OML 40’s Opuama flow station, and OML 17’s Obigbo and Agbada stations.
For the refineries in Port Harcourt, Warri, and Kaduna, the report said reviews are still ongoing. The company also noted progress on the Ajaokuta–Kaduna–Kano (AKK) gas pipeline, particularly efforts to fix engineering issues at the River Niger crossing.
It added that technical assessments are ongoing on the OB3 River Niger section to determine the most effective execution plan.
NNPCL said its focus remains on expanding domestic energy infrastructure while staying profitable amid global oil market volatility.
The Nigerian National Petroleum Company Limited (NNPCL) has declared a profit of N1.054 trillion for the month of May 2025 which indicates a 40% increase from the N748 billion it recorded in April.
The oil company disclosed the figure in its Monthly Report Summary for May, released on Tuesday. It also reported that it made N6.008 trillion in revenue for the same period.
Between January and May 2025, the NNPCL said it remitted N5.583 trillion to the federal government.
It explained that the figures are provisional and unaudited, and only reflect the company’s direct operations. Data from independent oil and gas operators are compiled separately by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
The report also showed that crude oil and condensate production in May averaged 1.629 million barrels per day, while average daily gas production stood at 7.35 million standard cubic feet.
On infrastructure, the NNPCL said it carried out turnaround maintenance on key assets like the Trans Escravos Pipeline, OML 40’s Opuama flow station, and OML 17’s Obigbo and Agbada stations.
For the refineries in Port Harcourt, Warri, and Kaduna, the report said reviews are still ongoing. The company also noted progress on the Ajaokuta–Kaduna–Kano (AKK) gas pipeline, particularly efforts to fix engineering issues at the River Niger crossing.
It added that technical assessments are ongoing on the OB3 River Niger section to determine the most effective execution plan.
NNPCL said its focus remains on expanding domestic energy infrastructure while staying profitable amid global oil market volatility.
