The Nigerian National Petroleum Company Limited posted ₦6.008tn in revenue for May 2025, a slight rise from the ₦5.972tn recorded in April, amid improved crude oil and condensate production.
According to the latest Monthly Report Summary released by the national oil company on Monday, profit after tax rose by 14 per cent to ₦1.054tn in May, up from ₦926bn in April.
Crude oil and condensate production climbed to 1.63 million barrels per day in May from 1.61mbpd in April, maintaining a steady recovery trend. The production peak for the month reached 1.72mbpd.
A breakdown shows that crude oil output held flat at 1.35mbpd, while condensate volumes recovered slightly to 0.28mbpd in May from 0.26mbpd in April.
Similarly, gas production rose slightly to 7.352 billion standard cubic feet per day, up from 7.354bn mmscfd the previous month. Gas sales, however, dipped marginally from 4.240bn mmscfd in April to 4.185bn mmscfd in May.
On the sales side, crude oil and condensate sales improved significantly, jumping to 24.77 million barrels in May from 22.16 million barrels in April. This marked the highest sales volume since February.
However, downstream performance showed signs of weakness. Fuel availability at NNPC Retail Limited stations dropped to 62 per cent in May, compared to 70 per cent in April, based on internal industry tracking. Analysts suggest the decline may reflect logistical or supply chain pressures amid continued subsidy-free pricing adjustments.
In terms of strategic projects, the company reported steady progress on the OB3 and Ajaokuta-Kaduna-Kano gas pipeline projects. OB3 achieved 96 per cent completion, while the AKK project reached 81 per cent. Upstream pipeline availability remained strong at 98 per cent.
The report also highlighted recent interventions such as the May turnaround maintenance of key pipelines including the Trans Escravos Pipeline, as well as multiple flow stations in OML 40 and OML 17.
The national oil firm said, “On strategic efforts, progressed technical interventions or AKK to resolve challenges of River Niger crossing and conducting detailed evaluation on OB3 RNC to determine the best project execution path going forward.
“Completed turnaround maintenance in May. Trans Escravos pipeline. Opuama flow station. Obigbo and Agbada flow stations.
“Refineries Status: PHRC WRPC and KRPC review in progress.”
Under its Corporate Social Responsibility portfolio, the NNPC Foundation said it had completed 6,028 cataract surgeries across the country and distributed starter packs to 531 NYSC Corps members on May 22. MRI equipment was also provided to hospitals in Kano and Anambra states.
The monthly snapshot underscores NNPC Ltd’s ongoing transformation into a commercially driven national energy company, with emphasis on operational transparency and sectoral impact.
Credit: punchng.com
