The Nigerian National Petroleum Company Limited (NNPCL) reported a profit after tax of 502 billion naira for November 2025, continuing its profitability streak despite challenges in crude oil and condensate production. Revenue for the month reached 4.36 trillion naira, driven by higher gas output, full pipeline availability, and a steady domestic fuel supply.
Crude oil and condensate production averaged 1.36 million barrels per day in November, a modest recovery from 1.30 million barrels per day in October but still below the 2025 peak of 1.77 million barrels per day. Gas production remained resilient, rising slightly to 6,968 million standard cubic feet per day from 6,997 million in October. The company credited the profit to improved gas production, strong trading performance, and sustained infrastructure availability, even as some crude‑producing assets faced operational challenges.
Statutory payments to the Federation Account increased to 12.12 trillion naira between January and October 2025, underscoring NNPCL’s growing fiscal contribution. The sustained profitability reflects the post‑commercialisation structure, tighter cost discipline, and an expanding gas footprint, although oil output remains vulnerable to asset‑specific setbacks. November’s crude and condensate output benefited from partial recoveries at certain assets after earlier disruptions, while the overall subdued performance was linked to repairs on the Forcados export line, a force majeure at Egbema, and delays in achieving first oil from the West African Exploration Project.
Gas production stayed relatively stable throughout 2025, with November’s figures matching October’s. This resilience supports NNPCL’s strategic push to deepen gas monetisation as Nigeria positions itself as a regional gas hub and transitions to a lower‑carbon energy mix. Upstream pipeline availability reached 100 percent in November, stabilising production and evacuation.
On the downstream side, petrol availability at NNPC Retail Limited stations was 61 percent, and the nationwide wetness map showed moderate to high fuel availability across most states. Significant progress was made on key gas infrastructure projects, including the Ajaokuta–Kaduna–Kano and Obiafu‑Obrikom‑Oben pipelines. With production recovery expected toward the end of December and into early 2026, NNPCL expressed optimism that improved asset uptime, gas‑led growth, and infrastructure delivery will strengthen earnings in the coming year.
The company’s commitment to sustainability was also recognised, as the NNPC Foundation won five awards at the 2025 SERAS Sustainability Africa Awards, including Most Responsible Organisation in Africa and Best in Gender Equality.
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