NNPCL data ₦502bn revenue in November regardless of decrease crude output
The Nigerian Nationwide Petroleum Firm Restricted recorded a revenue after tax of N502bn in November 2025, sustaining its profitability streak regardless of a decline in crude oil and condensate production in the course of the month.
Figures from the NNPCL Month-to-month {Financial} and Operations Report for November 2025 launched on Wednesday, confirmed that the nationwide oil firm additionally generated N4.36tn in income, reflecting a marginal improve in contrast with October, as improved gasoline output, full pipeline availability and regular home gasoline provide offset upstream production challenges.
Crude oil and condensate production averaged 1.36 million barrels per day in November, recovering barely from 1.30mbpd recorded in October, however nonetheless under the yr’s peak of 1.77mbpd achieved earlier in 2025.
The November output, nevertheless, marked the primary rebound after three consecutive months of decline between August and October.
Fuel production rose marginally to six,968 million commonplace cubic toes per day, in contrast with 6,997mmscf/d in October, underscoring the continued function of gasoline in stabilising NNPCL’s operational efficiency amid crude-related disruptions.
“NNPCL mentioned the ₦502bn revenue recorded in November was pushed by “improved gasoline production, robust buying and selling efficiency and sustained infrastructure availability, regardless of operational challenges in some crude-producing property,” the report learn.
The N502bn revenue recorded in November represents a slight enchancment on October’s efficiency, consolidating the corporate’s robust earnings momentum within the second half of the yr.
Income for the month stood at N4.358tn, pushed largely by gasoline gross sales, buying and selling actions and improved infrastructure uptime.
Cumulatively, statutory funds to the Federation Account rose to N12.12tn between January and October 2025, underlining NNPCL’s rising fiscal contribution to authorities revenues at a time of heightened strain on public funds.
The sustained profitability displays the corporate’s post-commercialisation construction, improved price self-discipline and increasing gasoline footprint, whilst oil production stays susceptible to operational setbacks and asset-specific disruptions.
Information from the report confirmed that crude and condensate output in November was supported by partial restoration at some property following earlier disruptions.
Production averaged 1.36mbpd, in contrast with 1.30mbpd in October, representing a rise of about 60,000 barrels per day month-on-month.
Nevertheless, output remained under ranges recorded within the first half of the yr, when production averaged above 1.40mbpd between January and July. Production had steadily declined from 1.38mbpd in August to 1.37mbpd in September and 1.30mbpd in October, earlier than the modest rebound in November.
NNPCL attributed the subdued efficiency to ongoing repairs on the Forcados export line (OML 30), a pressure majeure at Egbema (OML 61), and delays in attaining first oil from the West African Exploration Venture.
In distinction to crude, gasoline production remained comparatively resilient all through 2025. November gasoline output of 6,968mmscf/d was broadly according to October’s 6,997mmscf/d, after rebounding from a pointy dip to six,284mmscf/d in September.
Earlier within the yr, gasoline production peaked at 7,722mmscf/d in July, earlier than moderating within the third quarter. Fuel gross sales, reported on a two-month lag foundation, stood at 4,650mmscf/d in November, barely decrease than 4,713mmscf/d recorded in October, however considerably increased than September’s 3,443mmscf/d.
The sustained gasoline efficiency strengthened NNPCL’s strategic push to deepen gasoline monetisation as Nigeria positions itself as a regional gasoline hub and transitions to a lower-carbon power combine.
The report additionally confirmed that upstream pipeline availability hit 100 per cent in November, an enchancment that helped stabilise production and evacuation in the course of the interval.
On the downstream entrance, PMS availability throughout NNPC Retail Restricted stations stood at 61 per cent, whereas the corporate’s nationwide wetness map indicated reasonable to excessive gasoline availability throughout most states, easing provide issues that had flared intermittently earlier within the yr.
NNPCL disclosed that vital progress was recorded on key gasoline infrastructure initiatives in the course of the month. The Ajaokuta–Kaduna–Kano gasoline pipeline achieved completion of its mainline welding and strain testing, with the undertaking now on observe for completion in 2026.
Equally, work progressed on the Obiafu-Obrikom-Oben gasoline pipeline, with geotechnical knowledge acquisition accomplished on the River Niger crossing and early building works underway forward of drilling.
The corporate mentioned it was intensifying collaboration with its three way partnership and production-sharing contract companions to finish scheduled turnaround upkeep throughout amenities and place property for stronger output in 2026.
Past operations, the NNPC Basis recorded main recognition in November, successful 5 awards on the 2025 SERAS Sustainability Africa Awards, together with Most Accountable Organisation in Africa and Finest in Gender Equality.
The Basis additionally reported that the rehabilitation of three wards on the Nationwide Orthopaedic Hospital, Igbobi, Lagos, had reached 90.1 per cent completion as of November 30.
With production restoration anticipated in direction of the tip of December and into early 2026, NNPCL expressed optimism that improved asset uptime, gas-led progress and infrastructure supply would strengthen earnings within the coming yr, whilst crude oil output stays uncovered to operational and safety dangers.