NNPC Ltd reports N748 billion profit after tax for April with key progress on AKK and OB3 pipelines and crude oil output averaging 1.606 million bpd

NNPC Ltd April profit report has revealed strong financial and operational performance for the Nigerian National Petroleum Company Limited, with the company posting a revenue of N5.89 billion and a Profit After Tax of N748 billion for the month.

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This was disclosed in the April Monthly Report Summary released on Thursday, which also detailed strategic progress across major national energy projects.

According to the report, crude oil and condensate production averaged 1.606 million barrels per day in April. Natural gas production stood at 7.354 million standard cubic feet per day.

The data presented covers only NNPC Ltd’s own output, excluding independent operators’ figures reported by the Nigerian Upstream Petroleum Regulatory Commission.

The company also noted that it made statutory payments totalling N4.22 billion between January and March. Meanwhile, retail petrol availability stood at 54 per cent for the month under review, and upstream pipeline reliability reached 97 per cent.

On the infrastructure front, the OB3 gas pipeline project reached 95 per cent completion, while work on the Ajaokuta-Kaduna-Kano (AKK) pipeline advanced to 70 per cent.

NNPC Ltd also reported technical interventions to resolve challenges around River Niger crossings, which have long delayed completion.

The company highlighted that it had successfully implemented relevant presidential directives and Executive Orders guiding upstream operations, underlining its focus on sustainable production growth.

Collaboration with Venture Partners to accelerate output enhancement also featured prominently in its strategy for the month.

Turnaround Maintenance was completed across several Oil Mining Leases including OML 18, OML 58, OML 118 and OML 133.

The Port Harcourt Refinery Company, along with Warri and Kaduna refineries, remains under review, with no firm timeline yet disclosed for full operational status.

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The April report concluded with a note that all figures are provisional and unaudited, reflecting operational and financial data exclusive to the stated period.