NNPCL releases financial statement, declares N535bn profit after tax from N4.4tn revenue

Nigerian National Petroleum Company Limited, NNPCL has released its fiscal connection for June 2026.

According to the fiscal connection released connected X on Friday, the state-owned lipid institution recorded a nett aft tax, PAT of N535 cardinal successful June.

This represents a 15.8 per cent summation from the N462 cardinal recorded successful May.

NNPCL noted that the N535 cardinal PAT was generated from full gross of N4,389 cardinal for the month, portion cumulative statutory payments to the Federation for the play from January to June 2026 accrued to N6,286 billion, underscoring the company’s sustained publication to nationalist gross generation.

Average crude lipid and condensate accumulation witnessed a flimsy dip, lasting astatine 1.72 cardinal barrels per day, mmbopd, compared to 1.73 cardinal barrels per time successful May. The diminution was attributed to operational disruptions, installation integrity issues, and subsurface challenges crossed respective assets.

Natural state accumulation roseate to 7.841 cardinal modular cubic feet per time (mmscf/d) from 7.774 mmscf/d successful May, representing a humble 0.86 per cent summation and continuing the company’s upward trajectory successful state production.

The Obiafu-Obrikom-Oben (OB3) Gas Pipeline progressed to 98 per cent completion, with last tie-in works ongoing toward achieving First Gas successful August 2026.

Construction and installation activities connected t...