NNPCL Reports N185 Billion Profit in July, Oil Production Reaches 1.7mbpd

NNPCL Reports N185 Billion Profit in July, Oil Production Reaches 1.7mbpd

The Nigerian National Petroleum Company Limited (NNPCL) has reported a profit after tax of N185 billion for July 2025.

In its monthly performance report released, the company stated that approximately N7.9 trillion was remitted to the federation account in the first half of the year. It also highlighted improvements in crude oil production, which increased to 1.7 million barrels per day (mbpd) in July, up from 1.68 mbpd in June.

The details revealed crude oil production at 1.40 mbpd and condensate at 0.29 mbpd. Natural gas output also rose to 7.72 billion standard cubic feet per day (bscfd), compared to 7.58 bscfd in June, while gas sales reached 4.98 bscfd, indicating higher domestic and export demand.