The Nigerian National Petroleum Company Limited (NNPCL) has reported a profit after tax of 502 billion in November 2025, marking a sustained profitability streak despite challenges in crude oil and condensate production. According to the company’s monthly financial and operations report, revenue for the month stood at 4.36 trillion, driven by improved gas output, full pipeline availability, and steady domestic fuel supply.
Crude oil and condensate production averaged 1.36 million barrels per day in November, slightly recovering from 1.30 million barrels per day in October, but still below the year’s peak of 1.77 million barrels per day achieved earlier in 2025. Gas production, on the other hand, remained resilient, with a marginal increase to 6,968 million standard cubic feet per day, compared to 6,997 million standard cubic feet per day in October.
The company attributed the profit to improved gas production, strong trading performance, and sustained infrastructure availability, despite operational challenges in some crude-producing assets. Cumulatively, statutory payments to the Federation Account rose to 12.12 trillion between January and October 2025, highlighting NNPCL’s growing fiscal contribution to government revenues.
The sustained profitability reflects the company’s post-commercialisation structure, improved cost discipline, and expanding gas footprint, even as oil production remains vulnerable to operational setbacks and asset-specific disruptions. Data from the report showed that crude and condensate output in November was supported by partial recovery at some assets following earlier disruptions.
NNPCL attributed the subdued performance to ongoing repairs on the Forcados export line, a force majeure at Egbema, and delays in achieving first oil from the West African Exploration Project. In contrast, gas production remained relatively resilient throughout 2025, with November’s output broadly in line with October’s.
The company’s strategic push to deepen gas monetisation is reinforced by its sustained gas performance, as Nigeria positions itself as a regional gas hub and transitions to a lower-carbon energy mix. Upstream pipeline availability hit 100 per cent in November, stabilising production and evacuation during the period.
On the downstream front, petrol availability across NNPC Retail Limited stations stood at 61 per cent, with the company’s nationwide wetness map indicating moderate to high fuel availability across most states. Significant progress was recorded on key gas infrastructure projects, including the Ajaokuta–Kaduna–Kano gas pipeline and the Obiafu-Obrikom-Oben gas pipeline.
With production recovery expected towards the end of December and into early 2026, NNPCL expressed optimism that improved asset uptime, gas-led growth, and infrastructure delivery would strengthen earnings in the coming year. The company’s commitment to sustainability was also recognised, with the NNPC Foundation winning five awards at the 2025 SERAS Sustainability Africa Awards, including Most Responsible Organisation in Africa and Best in Gender Equality.