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 in July.
The figures were disclosed in the company’s July 2026 operational and financial performance report released on Wednesday.
NNPC reported revenue of N3.09tn and profit after tax of N279bn during the period under review, while oil production continued to weaken amid operational challenges across several assets.
Crude oil and condensate output fell from 1.73 million barrels per day in May to 1.72 million barrels per day in June before dropping further to 1.68 million barrels per day in July.
The company attributed the latest decline to facility outages, equipment shortages, pipeline incidents and other production constraints.
“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 decline in production was accompanied by lower crude oil and condensate sales. Total sales stood at 22.53 million barrels in July, comprising 21.53 million barrels of crude oil and one million barrels of condensate.
This represented a decline from the 28.23 million barrels sold in June.
NNPC said it was implementing measures to reverse the production decline and improve operational efficiency across its assets.
The company said its production recovery strategy would focus on improving facility uptime through preventive maintenance and reducing unplanned downtime.
It also plans to optimise export operations at FEPL and Nembe EP, develop incremental production opportunities and strengthen reliability across key facilities.
According to NNPC, tandem offloading operations at Akpo and Erha are being activated to improve export flexibility, while barging operations at Obodo are being restored to enhance production evacuation and sustain output.
On gas infrastructure, the company reported 100 per cent availability of its upstream pipeline network.
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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.
For the Ajaokuta-Kaduna-Kano (AKK) gas pipeline, NNPC said construction and installation works had reached an advanced stage to facilitate early gas delivery to Abuja in 2026.
The company put AKK pipeline availability at 95 per cent, while NNPC Retail’s petrol stations recorded 52 per cent availability, with distribution varying across regions.
Meanwhile, natural gas production stood at 7.49 billion standard cubic feet per day, while gas sales averaged 4.6 billion standard cubic feet per day.
NNPC, however, cautioned that the reported operational and financial figures remained provisional and would be reconciled with relevant stakeholders.
“All production, sales and financial figures are provisional and subject to reconciliation with relevant stakeholders,” the company stated.
