The Nigerian National Petroleum Company Limited (NNPCL) posted a profit after tax of ₦502 billion in November 2025, sustaining its profitability despite ongoing challenges in crude oil and condensate production.
NNPCL’s monthly report showed the company generated ₦4.36 trillion in revenue, a slight increase from October, as stronger gas output, full pipeline availability, and steady domestic fuel supply offset upstream disruptions. Crude and condensate production averaged 1.36 million barrels per day (mbpd), up from 1.30 mbpd in October, marking the first rebound after three months of consecutive decline, though still below the year’s peak of 1.77 mbpd.
Gas production remained resilient, averaging 6,968 million standard cubic feet per day (mmscf/d), supporting operational stability and underscoring NNPCL’s strategic focus on gas monetisation. Gas sales for November stood at 4,650 mmscf/d, slightly lower than October but significantly above September’s 3,443 mmscf/d.
“Improved gas production, strong trading performance, and sustained infrastructure availability drove the ₦502 billion profit, despite operational challenges in some crude-producing assets,” the report said.
Upstream production was constrained by ongoing repairs on the Forcados export line (OML 30), a force majeure at Egbema (OML 61), and delays at the West African Exploration Project. Meanwhile, pipeline availability reached 100 percent, stabilising production and evacuation. Downstream, petrol availability at retail stations averaged 61 percent nationwide, with most states reporting moderate to high fuel supply.
NNPCL also recorded progress on key gas infrastructure projects, including the Ajaokuta–Kaduna–Kano and Obiafu-Obrikom-Oben pipelines, positioning the company for stronger output in 2026. The NNPC Foundation earned five awards at the 2025 SERAS Sustainability Africa Awards and advanced rehabilitation works at the National Orthopaedic Hospital, Lagos.
With improved asset uptime and gas-led growth, NNPCL expressed optimism that earnings will strengthen in 2026, despite continued operational and security risks in crude production.
