Oil Output Peaks as NNPC Records Strong May Earnings

Nigeria’s crude oil and condensate production increased to 1.73 million barrels per day (mbpd) in May 2026, up from 1.68 million barrels per day recorded in April, marking the highest production level achieved in the last 12 months, according to the Nigerian National Petroleum Company (NNPC) Limited.

The company’s May 2026 Monthly Report Summary, released in Abuja, also showed that natural gas production rose to 7,774 million standard cubic feet per day (mmscf/d) from 7,730 mmscf/d recorded in April.
Despite the improvement, NNPC said production remained below its target due to operational challenges, including well performance issues at TotalEnergies-operated assets, reservoir pressure constraints at the Bonga field, lifting-related curtailments at Nembe, and maintenance activities at the Stardeep Agbami field.
The company explained that addressing these challenges would improve asset availability and further increase production.
The report also revealed that NNPC generated ₦4.335 trillion in revenue during May and recorded a profit after tax of ₦462 billion, reflecting stronger operational performance.
Crude oil and condensate sales stood at 18.95 million barrels, while gas sales averaged 4,921 mmscf/d.
On gas infrastructure, NNPC reported significant progress on two major pipeline projects expected to strengthen domestic gas supply.
According to the report, the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline has reached 94 per cent completion, with mainline construction, installation and pre-commissioning activities progressing to support early gas delivery to Abuja later this year.
Similarly, the Obiafu-Obrikom-Oben (OB3) Gas Pipeline has attained 97 per cent completion. The company said work on the River Niger Crossing has advanced significantly following pullback operations, while pre-commissioning and tie-in activities are expected to pave the way for full commissioning by the end of the third quarter of 2026.
The report further indicated that upstream pipeline availability remained high at 98 per cent, reflecting improved operational reliability across the production network.
However, the availability of Premium Motor Spirit (PMS) at NNPC Retail stations nationwide stood at 57 per cent during the review period.
Beyond its commercial operations, NNPC highlighted the activities of the NNPC Foundation, which commissioned and handed over a 1.5 Tesla Magnetic Resonance Imaging (MRI) system to the Nnamdi Azikiwe University Teaching Hospital (NAUTH), Nnewi, Anambra State, on May 15.
The facility includes chillers, uninterrupted power supply systems, battery racks and backup power infrastructure. The Foundation also provided free MRI scans to 40 patients during a training programme organised by GE for radiologists and radiographers.
According to the company, the intervention will improve access to advanced diagnostic services across the South-East, reduce patient referrals, support early disease detection, and strengthen specialist healthcare delivery.
NNPC noted that all production, sales and financial figures contained in the report are provisional and remain subject to reconciliation with relevant stakeholders.