The Nigerian National Petroleum Company Limited generated a total revenue of N6.008tn in May 2025, marking a marginal increase from the N5.972tn posted in April, even as crude oil and condensate production also showed slight improvement during the month.
According to the latest Monthly Report Summary released by the national oil company on Monday, profit after tax rose by 14 per cent to N1.054tn in May, up from N926bn in April.
Crude oil and condensate production climbed to 1.63 million barrels per day in May from 1.61mbpd in April, maintaining a steady recovery trend.
The production peak for the month reached 1.72mbpd. A breakdown shows that crude oil output held flat at 1.35mbpd, while condensate volumes recovered slightly to 0.28mbpd in May from 0.26mbpd in April.
Similarly, gas production rose slightly to 7.352 billion standard cubic feet per day, up from 7.354bn mmscfd the previous month. Gas sales, however, dipped marginally from 4.240bn mmscfd in April to 4.185bn mmscfd in May.
On the sales side, crude oil and condensate sales improved significantly, jumping to 24.77 million barrels in May from 22.16 million barrels in April. This marked the highest sales volume since February.
