NNPC posts N535b profit after tax, earns N4.389tr revenue in June

NNPC Limited recorded N535 billion Profit After Tax for June 2026, representing a 15.8 per cent increase from the N 462 billion recorded in May. This figure is contained in the company’s monthly financial and operations report for June 2026. Total revenue for the month stood at N4.389 trillion, while cumulative statutory payments to the Federation for the period January to June 2026 increased to N6.286 trillion, underscoring NNPC Limited’s sustained contribution to national revenue generation. Average crude oil and condensate production witnessed a slight dip, standing at 1.72 million barrels per day (mmbopd), compared to 1.73 million barrels per day in May. The production dip is attributed to operational disruptions, facility integrity issues, and subsurface challenges across several assets. Natural gas production rose to 7.841 million standard cubic feet per day (mmscf/d) from 7.774 mmscf/d in May, representing a modest 0.86 per cent increase, continuing the company’s upward trajectory in gas production. The Obiafu-Obrikom-Oben (OB3) Gas Pipeline progressed to 98 per cent completion, with final tie-in works ongoing towards achieving First Gas in August 2026. Construction and installation activities on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline advanced to 94 per cent completion, supporting the target of early gas delivery to Abuja in 2026.