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ABUJA – NNPC Limited recorded a profit after tax of N462 billion in May 2026, as the national oil company posted improvements across key operational and financial indicators, according to its May 2026 monthly report.
The report showed that crude oil and condensate production rose to 1.73 million barrels per day (mmbopd) in May, up from 1.68 million barrels per day in April, reflecting improved asset reliability and operational up time.
The company said production gains were supported by better facility performance, although output remained below target due to persistent operational constraints.
These constraints included well performance issues at TEPNG, reservoir pressure limitations at Bonga, lifting-related curtailments at Nembe, and maintenance activities at Stardeep Agbami.
On the gas front, natural gas production increased to 7,774 million standard cubic feet per day (mmscf/d) in May, marking the highest level recorded in the 12-month period covered by the report. Gas sales, however, declined slightly to 4,921 mmscf/d, from 5,044 mmscf/d in April.
The company also posted revenue of N4.335 trillion for the month, while total statutory payments from January to May reached N4.858 trillion, underscoring its contribution to government earnings.
In terms of sales performance, crude oil and condensate sales fell to 18.95 million barrels in May, down from 23.65 million barrels in April, indicating weaker sales volumes despite higher production.
NNPC reported strong pipeline performance, with upstream pipeline availability at 98 percent. Progress also continued on strategic gas infrastructure projects.
The Obiafu-Obrikom-Oben (OB3) Gas Pipeline reached 97 percent completion, with the company stating that work on the River Niger crossing had advanced significantly following pullback operations. Pre-commissioning and tie-in works are expected to pave the way for full commissioning of the OB3 pipeline section by the end of the third quarter of 2026.
Similarly, the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline achieved 94 percent completion. NNPC said mainline construction, installation and pre-commissioning activities were advancing to support early gas delivery to Abuja in 2026.
Retail performance remained mixed, with PMS availability across NNPC Retail stations standing at 57 percent.
Beyond its core operations, NNPC highlighted healthcare interventions through its foundation. On May 15, 2026, the NNPC Foundation commissioned and handed over a 1.5 Tesla MRI system to Nnamdi Azikiwe University Teaching Hospital in Nnewi, complete with chillers, UPS systems, battery racks and backup power supply.
According to the report, 40 patients received free MRI scans during a training programme organised by GE HealthCare for radiologists and radiographers ahead of the commissioning.
NNPC said the intervention is expected to improve access to advanced diagnostic services in Nigeria’s South-East by reducing referrals, enabling early disease detection and strengthening specialist healthcare delivery.
