NNPC Increases Oil Production to 1.64m bpd in January

The Nigerian National Petroleum Corporation (NNPC) announced a rise in crude oil production to 1.64 million barrels per day (bpd) in January 2025, compared to 1.55 million bpd in December 2024. This increase is attributed to the completion of turnaround maintenance at the Agbami field and the Renaissance Estuary area.

However, NNPC indicated that production plans for January may be affected by adverse weather conditions and challenges in asset evacuation and integration. In terms of financial performance, NNPC reported total revenues of N2.57 trillion for the month, with a profit of N385 billion after tax.

Additionally, the company made statutory payments totaling N726 billion during this period. The Ajaokuta-Kaduna-Kano (AKK) pipeline project is reported to be 92 percent complete, with pre-commissioning activities continuing and significant progress being made on the construction of block valve stations and intermediate pig stations.