Nigeria’s Crude Oil Output Hits Five-Month High Of 1.73mbpd In May

Nigeria’s crude oil and condensate production increased to 1.73 million barrels per day (mbpd) in May 2026, up from 1.68 mbpd recorded in April, according to the latest monthly report released by NNPC Limited on July 1.

The increase was driven by improved asset reliability and higher facility uptime, the report said.

According to NNPC Limited, however, production gains in May were constrained by persistent operational challenges, including poor well performance at TEPNG, reservoir pressure issues at Bonga, lifting curtailments at Nembe, and maintenance activities at the Stardeep Agbami field.

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The company reported a profit after tax of N462 billion for May, while revenue stood at N4.335 trillion. Total statutory remittances to the Federal Government between January and May amounted to N4.858 trillion.

The report also showed that gas production reached a 12-month high of 7,774 million standard cubic feet per day (mmscf/d).

However, gas sales declined slightly to 4,921 mmscf/d in May from 5,044 mmscf/d in April.

Despite the increase in production, crude oil and condensate sales fell to 18.95 million barrels in May from 23.65 million barrels recorded in April, reflecting weaker sales volumes.

NNPC Limited also reported strong pipeline performance, with upstream pipeline availability reaching 98%, while work continued on several strategic gas infrastructure projects.

The company disclosed that the Obiafu-Obrikom-Oben (OB3) Gas Pipeline reached 97% completion, adding that work on the River Niger crossing had advanced significantly following successful pullback operations.

According to the report, ongoing pre-commissioning and tie-in activities are expected to pave the way for the full commissioning of the OB3 pipeline section by the end of the third quarter of 2026.

Meanwhile, the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline achieved 94% completion.

NNPC said mainline construction, installation, and pre-commissioning activities are progressing to support early gas delivery to Abuja in 2026.

The company added that retail performance remained mixed, with Premium Motor Spirit (PMS) availability across NNPC Retail stations standing at 57%.