The Nigerian National Petroleum Company Limited (NNPCL) remitted N7.91tn to the Federation Account between January and July 2026, despite a decline in crude oil and condensate production recorded in July.
The figures were disclosed in the company’s July 2026 operational and financial performance report released on Wednesday.
According to the report, NNPCL generated N3.09tn in revenue and recorded a profit after tax of N279bn during the period under review.
However, crude oil and condensate production dropped to 1.68 million barrels per day in July, down from 1.72 million barrels per day in June and 1.73 million barrels per day in May.
The company attributed the decline to operational challenges affecting several production assets.
“July crude oil production was affected by a combination of operational disruptions across several assets, including facility outages, equipment unavailability, pipeline incidents, and production constraints,” NNPCL stated.
The reduction in production was also reflected in crude oil and condensate sales, which fell to 22.53 million barrels in July from 28.23 million barrels in June.
The July figure comprised 21.53 million barrels of crude oil and one million barrels of condensate.
NNPCL said it was taking steps to restore production levels and improve operational efficiency.
“Production improvement efforts will focus on sustaining high facility uptime through effective preventive maintenance programmes and minimizing unplanned downtime,” the company stated.
It added that the measures would include optimising export operations at FEPL and Nembe EP, developing additional production opportunities and improving reliability across key facilities.
“Additional measures include the activation of tandem offloading operations at Akpo and Erha to enhance export flexibility and the restoration of barging operations at Obodo to improve production evacuation and sustain output,” NNPCL added.
On gas infrastructure, the company reported 100 per cent availability of its upstream pipeline network.
It also disclosed that pre-commissioning activities had been completed on the River Niger Crossing section of the Obiafu-Obrikom-Oben gas pipeline, with first gas initially targeted for August 2026.
For the Ajaokuta-Kaduna-Kano gas pipeline, NNPCL said construction and installation works had reached an advanced stage, with efforts ongoing to facilitate early gas delivery to Abuja in 2026.
The company put the availability of the AKK pipeline at 95 per cent, while NNPCL Retail’s petrol stations recorded 52 per cent availability, with supply levels varying across regions.
NNPCL further reported that natural gas production stood at 7.49 billion standard cubic feet per day, while gas sales were recorded at 4.6 billion standard cubic feet per day.
The company, however, cautioned that the reported production, sales and financial figures were provisional and subject to reconciliation.
“All production, sales and financial figures are provisional and subject to reconciliation with relevant stakeholders,” it stated.
Titilope Adako is a talented and intrepid journalist, dedicated to shedding light on the untold stories of Osun State and Nigeria. Through incisive reporting, she tackles a broad spectrum of topics, from politics and social justice to culture and entertainment, with a commitment to accuracy, empathy, and inspiring positive change.
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