The Nigerian National Petroleum Company Limited (NNPC) reported cumulative revenue of N4.655 trillion as of August 2025, up from N4.406 trillion in July, despite a decline in crude oil and natural gas production due to scheduled maintenance.
According to monthly reports obtained by PUNCH Online on Friday, the company’s profit after tax surged to N539 billion in August, a significant increase from N185 billion recorded in July.
Statutory payments to the government also rose from N7.96 trillion in the first half of the year to N8.86 trillion by the end of July.
Operational data revealed that crude oil and condensate production fell to an average of 1.65 million barrels per day in August from 1.7 million barrels per day in July. Similarly, natural gas output declined to 6,949 million standard cubic feet per day from 7,722 million standard cubic feet per day.
Sales figures reflected this downturn, with crude oil and condensate sales dropping to 22.37 million barrels in August from 25.49 million barrels the previous month. Gas sales also eased to 4,201 million standard cubic feet per day from 4,978 million standard cubic feet per day.
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The company attributed the production decline to turnaround maintenance on some upstream facilities, aligned with Nigeria LNG’s maintenance schedule.
Infrastructure updates showed progress on the Ajaokuta–Kaduna–Kano pipeline, advancing from 83% completion in July to 84% in August. The Obiafu–Obrikom–Oben pipeline remained operational, with 113 kilometres commissioned and about 300 million standard cubic feet per day of gas flowing from producers including AHL, Platform, Chorus, and Xenergi.
Downstream, the wetness level at NNPC retail stations improved from 70% in July to 76% in August.
The report also highlighted social responsibility initiatives, noting that 60,231 National Youth Service Corps members received financial literacy training in August, bringing the total trained to 930,614. Additionally, NNPC sponsored the Code4Privacy Hackathon organised with the Nigeria Data Protection Commission, which saw participation from 141 young Nigerians.
There was no new update on the status of the refineries, which are currently under review.
