…As gas production drops to 7.352mmscf/d in May 2025
…Poor investments could raise oil deficit — OPEC warns
By Charles Ebi
Nigerian National Petroleum Company Ltd ,NNPCL, posted N6tn revenue in the month of May 2025.
The energy giant generated N1.05tn profit during the period under review. The company said this on Monday in its monthly report
According to the NNPC Ltd, N5.58tn has been remitted as statutory payments between January to April, 2025.
The monthly report is part of the Bayo Ojulari-led NNPC to entrench the transparency legacy of the immediate past Group Chief Executive Officer ,GCE, Mele Kyari.
The report further revealed that upstream pipeline availability was 98 per cent during the review month.
Crude oil production including condensates was 1.629 million barrels per day, representing a rise from the 1.6 million barrels per day recorded in April.
Natural gas production was 7.352 billion standard cubic feet per day (scf/d). This represents a slight drop from the 7.354 scf/d recorded in April, 2025.
It said Premium Motor Spirit ,PMS, availability in NNPC Retail Limited ,NRL, stations was 62%.
On the Obiafu-Obrikom-Oben ,OB3, gas pipeline, designed to connect the eastern and western gas networks and feed into the Ajaokuta-Kaduna-Kano ,AKK, pipeline in the north, the company said it is 96% completed.
It also disclosed that the Ajaokuta-Kaduna-Kano ,AKK, is also 81% completed.
“Ongoing collaboration with venture partners to accelerate sustainable production enhancement.
” Progressed technical interventions on AKK to resolve challenges of River Niger crossing ,RNC, and conducting detailed evaluations on OB3 RNC to determine the best project execution path forward”, the NNPCL said.
It also completed Turn Around Maintenance ,TAM, in May on Trans Escravos Pipeline ,TEP, OML 40- Opuama flow station, OML 17 – Obigbo and Agbada Flow Stations.
On the status of the Port Harcourt Refinery, Warri Refinery and Kaduna Refinery, the NNPCL said “review in progress”.
On corporate social responsibility ,CSR, NNPC said its charity arm, NNPC Foundation made official handover ceremony for the 531 NYSC Corps members’ starter packs on May 22, 2025.
It added, “A total of 6,028 cataract surgeries have been completed across the southern and northern regions.
“Provision of MRI machines to the National Orthopedic Hospital, Dala-Kano ,NOHDK, and Nnamdi Azikiwe University Teaching Hospital, Awka ,NAUTH,is underway.
“A total of 4,931 vulnerable farmers in Nigeria’s southern region received comprehensive training on modern farming techniques, climate change adaptation, and market access.
In a related development, the Nigerian National Petroleum Company Limited has announced that Nigeria’s gas production fell to 7.352 billion standard cubic feet per day in May 2025, down from 7.354 billion mmscfd the previous month.
This is according to the latest Monthly Report Summary released by the national oil company on Monday.
According to the company, gas sales, however, dipped marginally from 4.240 billion mmscfd in April to 4.185 billion mmscfd in May.
The report also showed that the company generated a total revenue of N6.008 trillion in May 2025, marking a marginal increase from the N5.972 trillion posted in April, even as crude oil and condensate production also showed slight improvement during the month.
However, downstream performance showed signs of weakness.
According to the report, fuel availability at NNPC Retail Limited stations dropped to 62% in May, compared to 70% in April, based on internal industry tracking. Analysts suggest the decline may reflect logistical or supply chain pressures amid continued subsidy-free pricing adjustments.
In terms of strategic projects, the company reported steady progress on the OB3 and Ajaokuta-Kaduna-Kano gas pipeline projects. OB3 achieved 96% completion, while the AKK project reached 81%. Upstream pipeline availability remained strong at 98%.
The report also highlighted recent interventions such as the May turnaround maintenance of key pipelines, including the Trans Escravos Pipeline, as well as multiple flow stations in OML 40 and OML 17.
The national oil firm said, “On strategic efforts, progressed technical interventions or AKK to resolve challenges of River Niger crossing and conducting detailed evaluation on OB3 RNC to determine the best project execution path going forward”.
Port Harcourt, Warri, and Kaduna refineries’ turnaround in progress
According to the company, completed turnaround maintenance in May included the Trans Escravos pipeline, the Opuama flow station, the Obigbo, and the Agbada flow stations.
The company stated that works on the Port Harcourt, Warri refineries turnaround maintenance are “review in progress”.
Under its corporate social responsibility, the company noted the following:
The official handover ceremony for the 531 NYSC Corps members’ starter packs took place as planned on May 22, 2025.
A total of 6,028 cataract surgeries were completed across the southern and northern regions.
Provision of MRI machines to the National Orthopedic Hospital, Dala-Kano ,NOHDK, and Nnamdi Azikiwe University Teaching Hospital, Awka ,NAUTH,is underway.
A total of 4,931 vulnerable farmers in Nigeria’s southern region received comprehensive training on modern farming techniques, climate change adaptation, and market access
Meanwhile, the Organisation of Petroleum Exporting Countries ,OPEC, has warned that weak investments in upstream operations will raise the global oil market deficit to 23 million barrels per day.
OPEC Secretary General, Haitham Al Ghais said this yesterday at the 24th NOG Energy Week Conference and Exhibition in Abuja.
Weak oil demand has been a major fear for oil exporters as investment in upstream has slowed on account of poor funding.
There were concerns about a potential deficit earlier in the year. However, the International Energy Agency ,IEA, reported in June that global oil supply rose by 1.9mbpd compared to the previous 2024.
This was driven in part by the unwinding of voluntary OPEC+ production cuts.
But the OPEC SG said its World Oil Outlook sees global primary energy demand growing by 23% by 2050.
He said that to meet the world’s growing need for energy, investment levels in all energies must increase significantly.
“For example, global cumulative oil-related investments of $17.4tn are required to 2050.
“Driving home the importance of securing this investment, OPEC research estimates a huge oil market deficit of 23 million barrels per day by 2030 if investment in the global upstream industry stopped today”, Ghais said.
The OPEC boss said there is a need for partnership which he described as “key for energy security”.
He said, “As the African proverb goes, ‘if you want to go fast, go alone. If you want to go far, go together’. We are stronger together a fact that has guided OPEC’s work for 65 years.
“This is why OPEC will continue to prioritize partnerships to secure a balanced and stable oil market, including through the Declaration of Cooperation and the Charter of Cooperation”.
As part of its drive to improve the value chain, he said OPEC members and national oil companies are driving technological innovation, with thousands of patents granted to the oil industry each year.
The OPEC boss added, “Innovation fuels progress, enabling cleaner, more secure, and more affordable energy solutions. For example, some OPEC Member Countries now rank among the least carbon-intensive crude oil producers worldwide”.
