The Nigerian National Petroleum Company Limited (NNPCL) has recorded a significant surge in profitability, posting a Profit After Tax (PAT) of N502 billion in November 2025, up from N447 billion in October, underscoring improving operational and financial performance.
According to its November 2025 Monthly Report, the national oil company generated N4.358 trillion in revenue during the month, slightly lower than the N5.08 trillion recorded in October. Between January and October, NNPCL made a cumulative N12.117 trillion in statutory payments to the Federation.
The report showed that crude oil and condensate production averaged 1.60 million barrels per day, while natural gas production stood at 6.968 million standard cubic feet per day in November.
NNPCL attributed the marginal dip in production to planned maintenance activities across key assets, including Esso-Erha, Stardeep-Agbami, and Renaissance-Estuary Area, which are nearing completion. Production recovery, the company said, was expected by the end of December 2025, despite continued delays to first oil from West African Exploration and Production Company Limited (WAEP).
AKK, OB3 Pipelines Near Completion
Providing updates on critical gas infrastructure, NNPCL disclosed that the Ajaokuta–Kaduna–Kano (AKK) Gas Pipeline had reached 90 per cent completion and remains on track for delivery in 2026.
“Significant progress has been recorded on the AKK mainline with the completion of welding works and pressure testing. The project is firmly on course for completion in 2026,” the company stated.
Similarly, the 127-kilometre Obiafu–Obrikom–Oben (OB3) Gas Pipeline achieved 96 per cent completion, with major progress recorded at the River Niger crossing. NNPCL said all equipment, materials, and personnel had been mobilised, with geotechnical data acquisition completed and early construction works underway ahead of drilling.
Operations, PMS Availability, 2026 Readiness
The company reported 100 per cent upstream asset availability as of November, while NNPCL Retail Limited outlets recorded 61 per cent availability of Premium Motor Spirit (PMS) nationwide.
NNPCL also confirmed the successful completion of its 2025 scheduled Turnaround Maintenance (TAM), alongside production initiatives across Joint Venture (JV), Production Sharing Contract (PSC), and NNPC Exploration & Production Limited (NEPL) assets—positioning the company to deliver its 2026 production plan.
The report added that NNPCL has intensified collaboration with its partners through year-end and into 2026 to boost output, maximise infrastructure uptime, and sustain high facility maintenance standards across its operations.
Overall, the November performance signals a stronger outlook for NNPCL as it deepens reforms, accelerates gas infrastructure delivery, and prepares for enhanced production in 2026.
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