NNPC says its profit decreased by 79% to N185bn in July

In its latest ‘Monthly Report Summary’ for July 2025, the
national oil firm said the figure dropped by 79.56 percent from N905 billion
recorded in June.

The NNPC said the figure reflects the cost of sales and
income tax adjustments.

The company said a revenue of N4.406 trillion was recorded
in the same period — down by 3.59 percent from N4.57 trillion.

The figure represents the aggregate of groupwide revenues,
including intercompany transactions, the NNPC said.

According to the organisation, crude oil and condensate
production averaged 1.7 million barrels per day (bpd) in July, while natural
gas output was 7.72 million standard cubic feet daily (mscfd).

Highlighting its “strategic” efforts, the national oil
company said it is sustaining crude oil and condensate production, improving
the uptime of production facilities, and continuing stakeholders’ collaboration
and operational efficiency.

“Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline: Additional
subcontractors deployed to expedite completion of mainline works and fast track
project completion,” the report reads.

The NNPC said it has commenced the implementation of the
revised execution strategy towards an expedited completion of
Obiafu-Obrikom-Oben (OB3) River Niger crossing.

“[The] 113km portion of OB3 Gas Pipeline has been
commissioned and is flowing about 300mmscf/d of gas from two gas producers,”
the oil company said.

The report noted that the NNPC Foundation coordinated the
donation of 35 compressed natural gas (CNG) buses to the presidential
initiative on CNG (Pi-CNG), “in conjunction with the offices of executive
vice-presidents, downstream and business services”.