NNPC Posts N535bn Profits for June, as Petrol Station Availability Drops to 53%

The Nigerian National Petroleum Company Limited (NNPC) has announced a profit after tax of N535 billion in its operations for June 2026, representing a 15.8 per cent increase from the N462 billion posted in May.

According to the company’s monthly financial and operations report, released on Friday, total revenue for the month stood at N4.389 trillion, while cumulative statutory payments to the Federation from January to June rose to N6,286 billion.

The report showed that average crude oil and condensate production dipped slightly to 1.72 million barrels per day (mmbopd) in June, down from 1.73 million barrels per day in May.

NNPC attributed the decline to operational disruptions, facility integrity issues, and subsurface challenges across several of its assets. It said the dip was partly cushioned by a production ramp-up following the completion of the Assa-Rumuekpe pipeline and the 28-inch TNP Turnaround Maintenance.

Crude oil and condensate sales for June were put at 28.23 million barrels, made up of 27.23 million barrels of crude and 1.00 million barrels of condensate, the highest monthly sales volume recorded in the twelve-month period reviewed.

On gas, NNPC said natural gas production climbed to 7,841 million standard cubic feet per day (mmscf/d) in June from 7,774 mmscf/d in May, a 0.86 per cent increase that continued the company’s upward trend in gas output. Gas sales for the month stood at 4,970 mmscf/d, slightly down from 5,044 mmscf/d in May.

The company reported that its upstream pipeline availability stood at 100 per cent for the month.

However, the report flagged a concern on the downstream side: NRL Stations’ PMS (petrol) availability stood at just 53 per cent nationwide in June, a figure that raises questions about consistency of fuel supply across NNPC retail outlets, even as the company touted strong upstream and financial performance.

NNPC included a map showing “retail station wetness” — the spread of fuel availability — varying from low to high across the country’s states.

On its major gas infrastructure projects, NNPC said the Obiafu-Obrikom-Oben (OB3) Gas Pipeline had reached 98 per cent completion, with final tie-in works ongoing to achieve First Gas in August 2026. It said the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline mainline had progressed to 94 per cent completion, with sustained collaboration among stakeholders aimed at delivering early gas to Abuja in 2026.

The company said it remained focused on delivering incremental production across its asset portfolio by improving facility reliability, minimising unscheduled downtime, optimising crude export operations, and accelerating new production opportunities.