…as profit after tax drops by 40%
The Nigerian National Petroleum Company Limited (NNPCL) has announced a total revenue of N4.26 trillion in September, this represents a decline from N4.654 trillion recorded in August 2025.
According to the Company’s monthly financial report published on Tuesday, the profit after tax stood at N216 billion, which is also a decrease from N539 billion recorded in August.
BusinessDay’s analysis of the report showed that crude oil and condensate production for the month was 1.61 million barrels per day. Of this total, crude oil production was 1.37 mmbpd, dropping from 1.38 mmbpd recorded in August. While the total condensate was 0.24 mmbpd dropping from 0.26 mmbpd in August.
Also, natural gas production stood at 6,284 mmscfd while sales was 3,443 mmscfd in September. This sales volume is a decrease from 4,201 mmscfd in August.
The report also indicated that the company had made statutory payment to the government, totalling N10.073 trillion from January to August.
The company said it sustained industry wide collaboration and drive production recovery initiatives. It added that production levels during the period were temporarily moderated due to planned maintenance activities including those at NLNG alongside the phased recovery of previously shut-in assets and delays in the commencement of operations at OMLs 71 and 72.
The company noted that substantial progress has been recorded as regard the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline, as sustained focus is being directed towards completion of the mainline works.
Also, on the Obiafu-Obrikom-Oben (OB3) Gas Pipeline, it said the implementation of revised execution strategy is underway to ensure delivery within target timelines.
The report indicated that 113km portion of OB3 Gas Pipeline has been commissioned and flowing circa 300mmscf/d of gas from gas producers including: AHL-250mmscf/d and Platform, Chorus & Xenergi – 50mmscf/d.
Source BusinessDay
