{"id":120266,"date":"2025-07-01T01:38:45","date_gmt":"2025-07-01T00:38:45","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=120266"},"modified":"2025-07-01T01:38:45","modified_gmt":"2025-07-01T00:38:45","slug":"nnpcl-records-n1-05tn-profit-after-tax-in-may","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/nnpcl-records-n1-05tn-profit-after-tax-in-may\/","title":{"rendered":"\u200eNNPCL Records N1.05tn Profit After Tax in May"},"content":{"rendered":"
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By Daniel Adaji<\/div>\n
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\u200e<\/div>\n
\u200eThe 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.<\/div>\n
\u200e<\/div>\n
\u200eThe report, which provides insight into the company\u2019s financial and operational performance, showed that NNPCL also generated a total revenue of N6.008tn within the same month.<\/div>\n
\u200e<\/div>\n
\u200eIt noted that “all financial figures provided in the report are provisional and unaudited.”<\/div>\n
\u200e<\/div>\n
\u200eThe report revealed that, \u201cProfit After Tax was 1.054tn,\u201d and \u201cRevenue was N6.008tn.\u201d<\/div>\n
\u200e<\/div>\n
\u200eCrude 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).<\/div>\n
\u200e<\/div>\n
\u200eNatural gas production averaged 7,352 million standard cubic feet per day (mmscf\/d) in May, maintaining April\u2019s production level of 7,354 mmscf\/d.<\/div>\n
\u200e<\/div>\n
\u200eThe company also reported that gas sales based on the M-2 accounting method remained steady over the months, signaling continued market stability.<\/div>\n
\u200e<\/div>\n
\u200eIn a statement detailing strategic efforts, NNPCL revealed that it had \u201cprogressed technical interventions on AKK to resolve challenges of River Niger crossing (RNC)\u201d and was \u201cconducting detailed evaluations on OB3 RNC to determine the best project execution path forward.\u201d<\/div>\n
\u200e<\/div>\n
\u200eAKK\u2019s completion status stood at 81%, while the OB3 project showed 96% completion.<\/div>\n
\u200e<\/div>\n
\u200eOperationally, upstream pipeline availability reached 98% following the completion of Turn Around Maintenance (TAM) on key pipelines and flow stations. These include the 20\/24\u2019\u2019 Trans Escravos Pipeline (TEP), OML 40 \u2013 Opuama Flow Station, and OML 17 \u2013 Obigbo and Agbada Flow Stations.<\/div>\n
\u200e<\/div>\n
\u200eMeanwhile, NNPCL \u2019s 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.<\/div>\n
\u200e<\/div>\n
\u200eThe company also began the provision of MRI machines to the National Orthopedic Hospital, Dala-Kano and Nnamdi Azikiwe University Teaching Hospital, Awka.<\/div>\n
\u200e<\/div>\n
\u200eAlthough 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.<\/div>\n
\u200e<\/div>\n
\u200eThe company maintained that \u201call financial figures are provisional and unaudited,\u201d and that the report covers only May 2025, unless otherwise stated.<\/div>\n
\u200e<\/div>\n<\/div>\n<\/div>\n