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By Daniel Adaji
The Nigerian National Petroleum Company Limited recorded a profit after tax of N1.054tn in May 2025, according to the report released on its website on Monday.
The report, which provides insight into the company’s financial and operational performance, showed that NNPCL also generated a total revenue of N6.008tn within the same month.
It noted that “all financial figures provided in the report are provisional and unaudited.”
The report revealed that, “Profit After Tax was 1.054tn,” and “Revenue was N6.008tn.”
Crude oil and condensate production for the month stood at 1.63 million barrels per day (mbopd), with peak production reaching 1.72mbopd. The report clarified that these figures represent NNPCL and its partners’ volumes only, excluding independent operators’ outputs as reported by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Natural gas production averaged 7,352 million standard cubic feet per day (mmscf/d) in May, maintaining April’s production level of 7,354 mmscf/d.
The company also reported that gas sales based on the M-2 accounting method remained steady over the months, signaling continued market stability.
In a statement detailing strategic efforts, NNPCL revealed that it had “progressed technical interventions on AKK to resolve challenges of River Niger crossing (RNC)” and was “conducting detailed evaluations on OB3 RNC to determine the best project execution path forward.”
AKK’s completion status stood at 81%, while the OB3 project showed 96% completion.
Operationally, upstream pipeline availability reached 98% following the completion of Turn Around Maintenance (TAM) on key pipelines and flow stations. These include the 20/24’’ Trans Escravos Pipeline (TEP), OML 40 – Opuama Flow Station, and OML 17 – Obigbo and Agbada Flow Stations.
Meanwhile, NNPCL ’s corporate social responsibility arm, NNPCL Foundation, continued its public impact initiatives. In May, it handed over starter packs to 531 NYSC corps members, completed 6,028 cataract surgeries across the country, and trained 4,931 vulnerable farmers in the southern region on modern agriculture, climate change adaptation, and market access.
The company also began the provision of MRI machines to the National Orthopedic Hospital, Dala-Kano and Nnamdi Azikiwe University Teaching Hospital, Awka.
Although refinery operations are still under review, the NNPC Limited stated that assessments at the Port Harcourt Refining Company (PHRC), Warri Refining and Petrochemical Company (WRPC), and Kaduna Refining and Petrochemical Company (KRPC) are ongoing.
The company maintained that “all financial figures are provisional and unaudited,” and that the report covers only May 2025, unless otherwise stated.