NNPCL Makes Revenue of N5.8tn with Profit of N748bn
The Nigerian National Petroleum Company Ltd (NNPCL) has released its monthly report summary for the month of April 2025 recording N5.89tn as revenue. The company also made it known that it recorded a profit after tax of N748bn.
NNPCL said the crude oil and condensate production at 1.603 million barrels per day while natural gas production was 7.473 million standard cubit feet per day.
According to the company crude oil production was 1.67MBPD in January before dropping to 1.62MBPD and 1.56MBPD in the month of February and March this year, respectively.
Between January and March this year, the company also made statutory payments of N4.225tn and empowered 531 NYSC Corps members with solar power starter packs, igniting a
new generation of clean energy entrepreneurs under the NNPC/NYSC Business Empowerment Initiative.
The company stated that the AKK Gas pipeline project is about 70 per cent completed, while the OB3 pipeline project is about 95 per cent completed which is a major breakthrough.
NNPCL has also take Final Investment Decision on four major oil and gas projects in the fourth quarter of this year.
The NNPC revealed this in its monthly report summary for the month of April, 2025.
A Final Investment Decision is a formal decision made by the executive management or board of a company—particularly in the energy, oil & gas, or infrastructure sectors—to proceed with a major capital project.
It marks the transition from planning and evaluation to full-scale project execution.
In the report, the National oil company listed the projects where FID would be taken before the end of the year to include Ntokon Development (OML 102), Crude Oil Production Expansion Project (OML 29), Gas Development Projects (OML 30, 42) and Brass Fertilizer (Financial Close).
The NNPCL in the report also revealed that it would enter into collaboration with Venture Partners to accelerate Sustainable Production Enhancement adding that the implementation of relevant Presidential directives and Executive orders for its upstream operations would be completed.
It also revealed the completion of Turn Around Maintenance of OML 18, OML 58, OML 118 and OML 133.
This is just as the report added that the national oil company recorded the sum of N5.89tn as revenue, resulting into a profit after tax of N748bn.
Oil Prices Soar 6% after Israel/Iran Strikes
Oil prices surged more than 9% on Friday, hitting their highest levels in nearly five months after Israel launched military strikes on Iran, intensifying Middle East geopolitical tensions and fuelling investor anxiety over potential disruptions in global crude oil supply.
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Brent crude futures rallied by $6.29, or 6.07%, to $75.65 a barrel by 03:15 GMT after soaring to an intraday high of $78.50—its strongest level since January 27. U.S. West Texas Intermediate (WTI) crude also climbed $6.43, or 9.45%, to $74.47, having reached $77.62, the highest since January 21.
The spike marks the largest intraday gain for both benchmarks since early 2022, when Russia’s invasion of Ukraine jolted energy markets and sent oil prices skyrocketing.
As of Friday, the global oil market is pricing in a new chapter of geopolitical instability, with potential consequences for energy costs, global inflation, and monetary policy responses.
