The Nigerian National Petroleum Company Limited (NNPCL) generated total revenue of N6.008tn in May 2025. This marks a marginal increase on the N5.972tn posted in April, 2025, with crude oil and condensate production also showing small improvement during the month.
According to the latest Monthly Report Summary released by the NNPCL on Monday, the company’s profit after tax rose by 14% to N1.054tn in May, up from N926bn 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.
Production reached a peak of 1.7mbpd in the month. A breakdown shows that crude oil output was 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, increasing to 24.77 million barrels in May from 22.16 million barrels in April. This marked the highest sales volume since February.
