NNPC posts ₦535 billion profit, records 1.72 million barrels daily oil output in June

The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced a profit after tax of ₦535 billion for June 2026, marking a 15.8 percent increase from the previous month. This financial performance was accompanied by a slight dip in crude oil and condensate production, which averaged 1.72 million barrels per day in June, down from 1.73 million barrels per day in May.

Despite the marginal decrease in oil output, NNPC Ltd saw a significant rise in natural gas production. June recorded the highest monthly volume of natural gas production within the 12-month reporting period, reaching 7.841 billion standard cubic feet per day. This represents a notable increase compared to previous months and a substantial 12 percent jump from October 2025 figures.

The company's upstream operations faced challenges, including operational disruptions, facility integrity issues, and subsurface problems. However, these were partially offset by production improvements following the completion of turnaround maintenance on key facilities like the Assa-Rumuekpe and the 28-inch TNP. The report also highlighted the high availability of critical gas pipelines, such as the OB3 Gas Pipeline at 98 percent and the AKK Gas Pipeline at 94 percent.