The Nigerian National Petroleum Company Limited remitted a cumulative N7.913 trillion to the Federation Account between January and July 2026, according to its July 2026 monthly report released on Tuesday.
The national oil company generated N3.087 trillion in revenue during the month and posted a Profit After Tax of N279 billion . The report also confirmed that the Obiafu-Obrikom-Oben (OB3) gas pipeline facility has reached 100 per cent completion .
Crude oil and condensate production averaged 1.68 million barrels per day during the period, reflecting the company’s continued efforts to sustain output from upstream operations . This aligns with data from the Nigerian Upstream Petroleum Regulatory Commission, which showed the country pumped 1.505 million barrels per day of crude in July, edging past its 1.5 million bpd OPEC allocation, with condensate adding 0.17 million bpd to bring total liquids output to 1.67 million bpd . It marks the first time in years that Nigeria has posted three consecutive months of compliance with its OPEC quota .
Natural gas production stood at 7,489 million standard cubic feet per day, while gas sales were recorded at 4,581 mmscfd . The July performance follows cumulative remittances of N6.286 trillion recorded in the first half of 2026, when the company’s revenue reached N19.04 trillion and profit after tax rose to N2.28 trillion .
The report provided updates on strategic gas infrastructure projects, indicating that the OB3 gas pipeline has reached full completion, while the Ajaokuta-Kaduna-Kano gas pipeline is now at 95 per cent . Upstream pipeline availability stood at 100 per cent during the period.
On retail operations, the availability of NNPC retail stations for the sale of Premium Motor Spirit stood at 52 per cent in July.
The company said production improvement efforts would focus on sustaining high facility uptime through effective preventive maintenance programmes and minimising unplanned downtime . Key initiatives include optimising export operations, maturing incremental production opportunities, and strengthening operational reliability across key facilities. Additional measures include the activation of tandem offloading operations at Akpo and Erha to enhance export flexibility and the restoration of barging operations at Obodo to improve production evacuation and sustain output.
All production, sales and financial figures contained in the monthly summary are provisional and subject to reconciliation with relevant stakeholders.
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