The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced a robust financial performance for November 2025, posting impressive revenues and profits despite operational headwinds.
Strong Financial Performance Amidst Maintenance
In its latest monthly report, the state-owned oil giant disclosed a revenue of N4.36 trillion for the month of November 2025. More significantly, the company recorded a profit after tax of N502 billion. This strong financial outcome was supported by a crude oil and condensate production average of 1.60 million barrels per day (mmbopd), which showed a slight improvement from the 1.58 mmbopd recorded in October.
Natural gas production remained stable, averaging 6,968 million standard cubic feet per day (mmscf/d). The company successfully balanced its output with essential infrastructure maintenance activities across several key assets.
Operational Highlights and Downstream Challenges
The report provided a detailed breakdown of sales and statutory remittances. From January to October 2025, NNPC's payments into the Federation Account totalled N12.117 trillion. In November alone, crude oil and condensate sales reached 19.98 million barrels, comprising 18.98 million barrels of crude and 1.00 million barrels of condensate.
However, gas sales experienced a minor dip, falling to 4,650 mmscf/d from October's 4,713 mmscf/d, a change attributed to fluctuating demand and planned maintenance schedules.
A notable challenge highlighted in the report was the availability of Premium Motor Spirit (PMS), commonly known as petrol. Availability across NNPC retail stations stood at 61 per cent, meaning nearly four out of every ten outlets potentially faced stock shortages during the month. This shortfall underscores the persistent supply chain issues in the downstream sector.
Future Outlook and Strategic Projects
The moderation in November's production was directly linked to planned maintenance activities at major fields including Esso-Erha, Stardeep-Agbami, and Renaissance-Estuary Area. The NNPC report indicated that these activities were nearing completion, with a production recovery anticipated by the end of December 2025. This sets the stage for improved output and a stronger performance in 2026.
NNPC also emphasized its commitment to strategic national projects designed to bolster future growth. Significant progress was noted on critical gas infrastructure initiatives like the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline and the Obiafu-Obrikom-Oben (OB3) River Niger crossing.
Beyond its core operations, NNPC's social investment arm, the NNPC Foundation, received notable recognition at the 2025 SERAS Sustainability Africa Awards. The foundation clinched five prestigious awards, including the overall Most Responsible Organisation in Africa and awards for its work in economic growth, stakeholder engagement, and poverty reduction.
The company plans to intensify collaboration with its joint venture and production sharing contract partners through year-end and into 2026. The focus remains on enhancing production performance, maximizing infrastructure uptime, and upholding high maintenance standards across all assets to deliver on its 2026 production plan.
