The Nigerian National Petroleum Company Limited, NNPC, remitted N7.91tn to the Federation Account between January and July 2026, even as crude oil and condensate production declined to 1.68 million barrels per day, bpd, in July.
The figures were contained in the company’s July 2026 operational and financial performance report released on Wednesday. NNPC reported revenue of N3.09tn and a profit after tax of N279bn during the period under review.
However, crude oil and condensate production continued to decline, falling from 1.73 million bpd in May to 1.72 million bpd in June before dropping further to 1.68 million bpd in July. The company attributed the July decline to operational disruptions across several assets.
“July crude oil production was affected by a combination of operational disruptions across several assets, including facility outages, equipment unavailability, pipeline incidents, and production constraints,” NNPC stated.
The reduction in output was also reflected in crude oil and condensate sales, which fell to 22.53 million barrels in July.
The figure comprised 21.53 million barrels of crude oil and one million barrels of condensate, compared with 28.23 million barrels recorded in June.
NNPC said it was implementing measures aimed at reversing the production decline and improving output.
“Production improvement efforts will focus on sustaining high facility uptime through effective preventive maintenance programmes and minimizing unplanned downtime,” the company stated.
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The measures include optimizing export operations at FEPL and Nembe EP, developing incremental production opportunities and strengthening operational reliability across key facilities.
The company also said tandem offloading operations had been activated at Akpo and Erha to improve export flexibility, while barging operations at Obodo were being restored to enhance production evacuation and sustain output.
NNPC reported 100 per cent availability of its upstream pipeline network during the period. It also disclosed that pre-commissioning activities had been completed on the River Niger Crossing section of the Obiafu-Obrikom-Oben gas pipeline, with first gas initially targeted for August 2026.
On the Ajaokuta-Kaduna-Kano gas pipeline, the company said construction and installation works were at an advanced stage, with the project expected to facilitate early gas delivery to Abuja in 2026. NNPC placed AKK pipeline availability at 95 per cent.
Natural gas production stood at 7.49 billion standard cubic feet per day (bscf/d), while gas sales reached 4.6 bscf/d.
NNPC Retail’s petrol stations recorded 52 per cent availability, although distribution varied across regions.
The company cautioned that the reported production, sales and financial figures remained provisional and subject to reconciliation with relevant stakeholders.
“All production, sales and financial figures are provisional and subject to reconciliation with relevant stakeholders,” NNPC stated.
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