The latest Monthly Report Summary released by the Nigerian National Petroleum Company Limited (NNPCL) on Monday shows ₦6.008trillion in revenue for May 2025, a rise from the ₦5.972tn recorded in April.
The national oil company said its profit after tax rose by 14 per cent to ₦1.054tn in May, up from ₦926bn in April, following improved crude oil and condensate production.
Crude oil and condensate production increased to 1.63 million barrels per day (mbpd) in May, from 1.61mbpd in April, maintaining a steady recovery trend. The production peak for the month reached 1.72mbpd.
Analysis shows crude oil output held flat at 1.35mbpd, while condensate volumes recovered slightly to 0.28mbpd in May from 0.26mbpd in April.
Also, gas production rose slightly to 7.352 billion standard cubic feet per day (bscf/d), up from 7.354bscf/d the previous month. Gas sales, however, dipped marginally from 4.240bscf/d in April to 4.185bscf/d in May.
Crude oil and condensate sales improved significantly, jumping to 24.77 million barrels in May from 22.16 million barrels in April. This is the highest sales volume since February.
However, downstream performance showed signs of weakness. Fuel availability at NNPC Retail Limited stations dropped to 62 per cent in May, compared to 70 per cent in April, based on internal industry tracking. Analysts suggest the decline may reflect logistical or supply chain pressures related to subsidy-free pricing adjustments.
The report also highlighted recent interventions, such as the May turnaround maintenance of key pipelines, including the Trans Escravos Pipeline, as well as multiple flow stations in OML 40 and OML 17.
The national oil firm said, “On strategic efforts, progressed technical interventions on AKK to resolve challenges of River Niger crossing and conducting detailed evaluation on OB3 RNC to determine the best project execution path going forward.
“Completed turnaround maintenance in May: Trans Escravos Pipeline, Opuama Flow Station, Obigbo and Agbada Flow Stations.
“Refineries Status: PHRC, WRPC, and KRPC review in progress.”
Under its Corporate Social Responsibility portfolio, the NNPC Foundation said it had completed 6,028 cataract surgeries across the country and distributed starter packs to 531 NYSC Corps members on May 22. MRI equipment was also provided to hospitals in Kano and Anambra States.
Industry experts commend NNPC Ltd’s ongoing transformation into a commercially driven national energy company, with emphasis on operational transparency and sectoral impact.
