NNPC Reports Decline in Profit and Production for July

The Nigerian National Petroleum Company Limited (NNPC) reported a decline in profit after tax (PAT) for July 2026, dropping to N279 billion from N535 billion in June. Revenue also decreased from N4.389 billion in June to N3.087 billion in July.

Crude oil and condensate production averaged 1.68 million barrels per day in July, down from 1.72 million barrels per day in June. Natural gas production fell to 7.489 million standard cubic feet per day from 7.841 million.

Despite these declines, NNPC recorded an increase in cumulative statutory payments for January to July 2026, rising to N7.913 billion from N6.286 billion for January to June. The upstream pipeline availability remained at 100 percent for the second consecutive month, attributed to improved reliability in key evacuation infrastructure.

At NNPC Retail stations, PMS availability was at 52 percent, while the OB3 pipeline maintained 100 percent availability. The report indicated that construction on the AKK pipeline is advanced, with early gas delivery to Abuja expected before year-end.