Nigeria: NNPC Records Decline in Oil, Gas Output in July As Disruptions Hit Operations
NNPC said facility outages and pipeline incidents cut July output, while revenue fell to ₦3.087 trillion and profit after tax dropped to ₦279 billion.
- The Nigerian National Petroleum Company Limited reported July profit of ₦279 billion, down 48 per cent from ₦535 billion in June, while revenue fell to ₦3.087 trillion from ₦4.389 trillion.
- Operational disruptions including facility outages, equipment unavailability, and pipeline incidents drove the decline, with NNPC crude oil production falling to 1.68 million barrels per day from 1.72 million in June.
- Natural gas production dropped 4.5 per cent to 7,489 mmscf/d from 7,841 mmscf/d, while gas sales fell by about 7.8 per cent to 4,581 mmscf/d from 4,970 mmscf/d during July.
- The Obiafu-Obrikom-Oben gas pipeline recorded 100 per cent availability, while the Ajaokuta-Kaduna-Kano pipeline achieved 95 per cent; PMS availability stood at 52 per cent across retail stations.
- NNPC reported statutory payments of ₦7.913 trillion from January to July, while the Ajaokuta-Kaduna-Kano pipeline nears completion for 2026 delivery to Abuja and Obiafu-Obrikom-Oben pre-commissioning activities concluded.
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NNPCL revenue, profit after tax drop significantly to N3.08tn, N279bn
The Nigerian National Petroleum Company Limited, NNPCL, recorded a significant decline in revenue and profit after tax, PAT, in July 2026, amid lower crude oil sales and production. The state-owned oil company disclosed this in its monthly financial and operational report released on Tuesday. NNPCL’s revenue fell by 29.5 per cent to N3.08 trillion in July, down from N4.38 trillion recorded in June. The decline was driven largely by a 20.2 per ce…
NNPC records decline in oil, gas output in July as disruptions hit operations
The decline in production came despite NNPC’s ongoing efforts to improve output and sustain operational efficiency across its assets. The post NNPC records decline in oil, gas output in July as disruptions hit operations appeared first on Premium Times Nigeria.
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