The Nigerian National Petroleum Company Limited (NNPCL) has reported ₦6.008 trillion in revenue for May 2025, which is a slight rise from the ₦5.972tn recorded in April.
The latest monthly report summary was released by the national oil company on Monday.
Improvement in revenue comes amid improved crude oil and condensate production, as profit after tax rose by 14 per cent to ₦1.054tn in May, up from ₦926bn in April.
Crude oil and condensate production climbed to 1.63 million barrels per day in May from 1.61mbpd in April, maintaining a steady recovery trend. The production peak for the month reached 1.72mbpd.
A breakdown showed that crude oil output held flat at 1.35mbpd, while condensate volumes recovered slightly to 0.28mbpd in May from 0.26mbpd in April.
Similarly, gas production rose slightly to 7.352 billion standard cubic feet per day, up from 7.354bn mmscfd the previous month. Gas sales, however, dipped marginally from 4.240bn mmscfd in April to 4.185bn mmscfd in May.
On the sales side, crude oil and condensate sales improved significantly, jumping to 24.77 million barrels in May from 22.16 million barrels in April. This marked the highest sales volume since February.
However, downstream performance showed signs of weakness. Fuel availability at NNPCL Retail Limited stations dropped to 62 per cent in May, compared to 70 per cent in April, based on internal industry tracking.
Under its Corporate Social Responsibility portfolio, the NNPCL 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.
In terms of projects, the company reported steady progress on the OB3 and Ajaokuta-Kaduna-Kano (AKK) gas pipeline projects.
OB3 achieved 96 percent completion, while the AKK project reached 81 per cent. Upstream pipeline availability remained strong at 98 per cent.
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.
