The Nigerian National Petroleum Company (NNPC) Limited recorded a 29.5 per cent decline in revenue to N3.08 trillion in July 2026, from N4.38 trillion recorded in June.
The company disclosed this in its July 2026 Monthly Report Summary released on Tuesday, which also showed a sharp decline in its profit after tax (PAT) during the month.
According to the report, NNPC’s PAT fell by 47.9 per cent to N279 billion in July, compared with N535 billion recorded in June.
The decline in revenue was largely attributed to lower crude oil and condensate sales during the month.
NNPC said it sold 22.53 million barrels of crude oil and condensate in July, representing a 20.2 per cent decline from the 28.23 million barrels sold in June.
Gas sales also declined by 7.8 per cent to 4.58 million standard cubic feet per day (mmscfd) in July, from 4.97 mmscfd in the preceding month.
Despite the decline in its monthly revenue and profit, NNPC said it remitted N7.91 trillion to the Federation Account between January and July 2026.
On production, the company reported a 2.3 per cent decline in crude oil and condensate output to 1.68 million barrels per day (bpd) in July, compared with 1.72 million bpd recorded in June.
The July output comprised 1.44 million bpd of crude oil and 240,000 bpd of condensate, compared with 1.47 million bpd of crude oil and 250,000 bpd of condensate in June.
Crude oil production therefore declined by two per cent, while condensate production fell by four per cent during the period.
Natural gas production also dropped by 4.5 per cent to 7.48 mmscfd in July, from 7.84 mmscfd in June.
On pipeline operations, NNPC said upstream pipeline availability was sustained at 100 per cent for the second consecutive month.
It added that the Obiafu-Obrikom-Oben (OB3) pipeline recorded 100 per cent availability, while the Ajaokuta-Kaduna-Kano (AKK) gas pipeline recorded 95 per cent availability.
NNPC said its production improvement efforts would focus on sustaining high facility uptime through effective preventive maintenance programmes and reducing unplanned downtime.
The company said it was also optimising export operations at FEPL and Nembe EP, while working to deliver incremental production opportunities across its portfolio and strengthen operational reliability across key facilities.
It further disclosed plans to activate tandem offloading operations at Akpo and Erha to improve export flexibility, as well as restore barging operations at Obodo to enhance production evacuation.
On the AKK gas pipeline, NNPC said construction and installation works for the early-gas component were at an advanced stage towards delivering gas to Abuja in 2026.
The company also said pre-commissioning activities on the OB3 River Niger Crossing Pipeline had been completed ahead of first gas expected in August 2026.