NNPC Reports N535bn Profit in June 2026

The Nigerian National Petroleum Company Limited (NNPC) announced a profit after tax of N535 billion for June 2026, marking a 15.8% increase from the N462 billion recorded in May. The company's revenue for June rose to N4.389 trillion, while cumulative statutory payments to the Federation from January to June 2026 totaled N6.286 trillion.

Average crude oil and condensate production saw a marginal decline to 1.72 million barrels per day in June from 1.73 million barrels per day in May, attributed to operational disruptions and facility integrity issues. However, crude oil and condensate sales increased significantly to 28.23 million barrels in June, up from 18.95 million barrels in May.

Gas production also improved, reaching 7,841 million standard cubic feet per day. The report highlighted progress on two major gas infrastructure projects, with the Obiafu-Obrikom-Oben Gas Pipeline at 98% completion and the Ajaokuta-Kaduna-Kano Gas Pipeline at 94% completion, both supporting future gas delivery targets.