Featured, Oil & Gas
By Anthony Isibor
NNPC Limited has recorded a profit after tax of N535 billion in June 2026, an increase of 15.8 per cent from the N462 billion posted in May, while revenue rose to N4.389 trillion from N4.335 trillion, according to the company’s latest monthly report.
A breakdown of the June 2026 monthly report published on its website by Realnews showed that revenue increased by N54 billion, or 1.2 per cent, month-on-month.
The report also showed that statutory payments to the Federation reached N6.286 trillion between January and June, up from N4.858 trillion recorded between January and May, representing an additional N1.428 trillion remitted during the period.
Natural gas production rose to 7,841 million standard cubic feet per day (mmscf/d) in June from 7,774 mmscf/d in May, an increase of 67 mmscf/d or 0.9 per cent.
Crude oil and condensate production, however, slipped marginally to 1.72 million barrels per day (mmbopd) in June from 1.73 million barrels per day in May, a decline of about 0.6 per cent. The report showed crude oil production remained unchanged at 1.47 million barrels per day, while condensate production was steady at 0.25 million barrels per day.
Gas sales recovered to 4,970 million standard cubic feet per day in June, compared with 4,921 mmscf/d in May, representing a one per cent increase.
Crude oil and condensate sales also improved significantly, rising to 28.23 million barrels in June from 18.95 million barrels in May, an increase of 9.28 million barrels, or about 49 per cent.
The report showed upstream pipeline availability improved from 98 per cent in May to 100 per cent in June.
Progress on the Obiafu-Obrikom-Oben (OB3) gas pipeline also advanced from 97 per cent to 98 per cent during the period. According to the report, final tie-in works are ongoing to achieve first gas from the River Niger crossing section in August 2026.
The Ajaokuta-Kaduna-Kano (AKK) gas pipeline remained 94 per cent complete.
Premium Motor Spirit (PMS) availability at NNPC Retail Limited stations fell to 53 per cent in June from 57 per cent in May.
On its social investment activities, the report said the NNPC Foundation commissioned and handed over a 1.5 Tesla Magnetic Resonance Imaging (MRI) machine to the National Orthopaedic Hospital, Dala, Kano State, on June 4. The facility, equipped with chillers, an uninterrupted power supply system and backup power supply, was accompanied by free MRI scans for 40 patients.
The report also highlighted the Foundation’s collaboration with Pan-Atlantic University to host the second Symposium on Energy and Sustainable Environmental Communication in Nigeria on June 10 and 11, bringing together academics and communication professionals to discuss climate change, environmental sustainability and Nigeria’s energy transition.
In addition, the Foundation said it trained 81,748 National Youth Service Corps members under its Basic Financial Literacy Programme in June, bringing the cumulative number of beneficiaries to 1,324,984.
A.I
July 31, 2026
Tags: NNPC