The Nigerian National Petroleum Company Limited (NNPC Ltd) remitted N7.91 trillion to the Federation Account between January and July 2026, even as its crude oil and condensate production declined to 1.68 million barrels per day in July.
The figures were contained in NNPC’s July 2026 operational and financial performance report released on Wednesday.
The company also reported N3.09 trillion in revenue and N279 billion in profit after tax during the period under review.
However, crude oil and condensate production fell from 1.73 million barrels per day in May to 1.72 million barrels per day in June and further to 1.68 million barrels per day in July.
NNPC attributed the decline to operational disruptions across several assets, including facility outages, equipment failures, 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,” the company stated.
Crude oil and condensate sales also declined in July, with total sales standing at 22.53 million barrels. This comprised 21.53 million barrels of crude oil and one million barrels of condensate, compared with 28.23 million barrels recorded in June.
NNPC said it was taking steps to reverse the decline and increase production.
The company said it would focus on improving facility uptime through preventive maintenance, reducing unplanned downtime and optimising export operations at FEPL and Nembe EP.
It also plans to develop additional production opportunities and strengthen operational reliability across key facilities.
NNPC said tandem offloading operations at Akpo and Erha would be activated to improve export flexibility, while barging operations at Obodo would be restored to enhance production evacuation.
On gas infrastructure, the company reported 100 per cent availability of its upstream pipeline network.
NNPC 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.
Construction and installation work on the Ajaokuta-Kaduna-Kano gas pipeline was also said to be at an advanced stage, with the project expected to support early gas delivery to Abuja in 2026.
NNPC reported natural gas production of 7.49 billion standard cubic feet per day, while gas sales stood at 4.6 billion standard cubic feet per day.
The company, however, cautioned that the reported production, sales and financial figures remained provisional and subject to reconciliation with relevant stakeholders.
