NNPC profit falls 47.9% to N279 billion in July amid lower crude and gas output
The Nigerian National Petroleum Company Limited (NNPC Ltd) recorded a profit after tax (PAT) of N279 billion in July 2026, representing a 47.9% decline from the N535 billion recorded in June. The post NNPC profit falls 47.9% to N279 billion in July amid lower crude and gas output appeared first on Nairametrics .
NNPC, the Nigerian National Petroleum Company, experienced a significant 47.9% drop in profit after tax (PAT) to N279 billion in July 2026, down from N535 billion in June. This drop marked the company's lowest monthly profit since March 2026. The decline was attributed to reduced crude oil and gas outputs, with crude oil and condensate sales falling to 22.53 million barrels from 28.23 million barrels in June, a 20.2% decrease.
Gas sales also dropped to 4,581 mmscf/d from 4,970 mmscf/d in June. Despite the lower profit, NNPC's production efforts aimed to maintain high facility uptime and increase production. The company's financial performance was influenced by stronger sector growth and a 4.43% year-on-year expansion of the broader Nigerian economy in Q2 2026.
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