The Nigerian National Petroleum Company Limited (NNPCL) has reported a revenue of ₦6.008 trillion for the month of May 2025, representing a slight increase from the ₦5.972 trillion recorded in April. The growth comes on the back of improved crude oil and condensate production.
According to its latest monthly report released on Monday, NNPCL’s profit after tax rose by 14 percent, reaching ₦1.054 trillion in May, up from ₦926 billion in the previous month.
Crude oil and condensate production continued to recover steadily, rising to 1.63 million barrels per day (mbpd) in May from 1.61 mbpd in April. The production peak for the month reached 1.72 mbpd. A further breakdown revealed that crude oil output held steady at 1.35 mbpd, while condensate production inched up to 0.28 mbpd from 0.26 mbpd in April.
Similarly, gas production rose marginally to 7.352 billion standard cubic feet per day (bscfd) from 7.354 bscfd in April. However, gas sales dipped slightly to 4.185 bscfd in May, down from 4.240 bscfd in April.
On the sales front, crude oil and condensate sales surged to 24.77 million barrels in May, up from 22.16 million barrels in April — marking the highest monthly sales volume since February.
Despite the positive momentum upstream, the company’s downstream performance weakened slightly. Fuel availability at NNPC Retail Limited stations fell to 62 percent in May from 70 percent in April, based on internal tracking data.
NNPCL also highlighted steady progress on its major strategic gas projects. The Obiafu-Obrikom-Oben (OB3) pipeline project achieved 96 percent completion, while the Ajaokuta-Kaduna-Kano (AKK) gas pipeline reached 81 percent. Upstream pipeline availability remained strong at 98 percent during the month.
The company further disclosed that it carried out turnaround maintenance in May on key pipelines and facilities, including the Trans Escravos Pipeline, Opuama Flow Station, as well as the Obigbo and Agbada flow stations in OML 40 and OML 17. It also noted ongoing technical interventions on the AKK project, particularly to resolve challenges with the River Niger crossing, and detailed evaluations on the OB3 River Niger crossing segment to determine the optimal execution path.
On refinery operations, reviews of the Port Harcourt Refining Company (PHRC), Warri Refining and Petrochemical Company (WRPC), and Kaduna Refining and Petrochemical Company (KRPC) are ongoing, the report stated.
Under its Corporate Social Responsibility (CSR) initiatives, the NNPC Foundation announced that it had completed 6,028 cataract surgeries across the country. It also distributed starter packs to 531 National Youth Service Corps (NYSC) members on May 22 and provided MRI equipment to hospitals in Kano and Anambra States.
