NNPC's monthly profit jumped despite lower total revenue. The Nigerian National Petroleum Company reported a November profit after tax of 502 billion naira, up from 447 billion the previous month, even as its total earnings dipped to 4.358 trillion naira from 5.08 trillion. The state-owned firm's crude and condensate output averaged 1.60 million barrels per day, with natural gas production at 6.968 million standard cubic feet daily, though planned maintenance on several key assets temporarily limited volumes.
The company noted significant progress on major infrastructure projects, with the Ajaokuta Kaduna Kano gas pipeline ninety percent complete and the Obiafu Obrikom Oben pipeline at ninety-six percent. It aims to finish the AKK mainline in 2026, which will supply gas to industrial and power facilities in northern Nigeria. NNPC also completed its scheduled facility maintenance for the year and is preparing assets to meet a 2026 production target of 1.8 million barrels per day, with an ambitious goal of 4 million barrels daily by 2030.
Internally, NNPC is reviewing its portfolio and plans to sell non-performing oil fields early next year to raise funds, while developing other fields in-house. The company also reported ongoing corporate social projects, like the ninety percent completed rehabilitation of wards at the National Orthopaedic Hospital in Lagos. These moves are part of a broader effort to intensify collaboration with partners and maximize infrastructure performance.
The company noted significant progress on major infrastructure projects, with the Ajaokuta Kaduna Kano gas pipeline ninety percent complete and the Obiafu Obrikom Oben pipeline at ninety-six percent. It aims to finish the AKK mainline in 2026, which will supply gas to industrial and power facilities in northern Nigeria. NNPC also completed its scheduled facility maintenance for the year and is preparing assets to meet a 2026 production target of 1.8 million barrels per day, with an ambitious goal of 4 million barrels daily by 2030.
Internally, NNPC is reviewing its portfolio and plans to sell non-performing oil fields early next year to raise funds, while developing other fields in-house. The company also reported ongoing corporate social projects, like the ninety percent completed rehabilitation of wards at the National Orthopaedic Hospital in Lagos. These moves are part of a broader effort to intensify collaboration with partners and maximize infrastructure performance.
