Abuja — Nigeria’s state oil firm NNPC booked after-tax profits of 5.760 trillion naira ($4.26 billion) last year, it said, as Africa’s biggest oil producer recorded average crude and condensate output of 1.62 million barrels per day.
Total revenue was 60.517 trillion naira, with statutory payments to government agencies and partners amounting to 14.706 trillion naira for the year.
NNPC did not provide comparison figures from the previous year in the results, which were released on Wednesday.
It said crude production dipped slightly in December – the last month of the period – from earlier months due to scheduled maintenance and several unplanned outages.
December oil and condensate production averaged 1.54 million bpd with revenue for the month reaching 4.824 trillion naira.
Natural gas supply in December averaged more than 6.914 billion standard cubic feet per day.
Downstream metrics improved in December, the company said, with Nigerian Refining Limited stations achieving 65% petrol (PMS) availability, marking an increase from previous periods.
Upstream infrastructure also performed strongly, with pipeline systems reporting 100% availability.
The company highlighted continued progress on major gas infrastructure projects. Mainline welding on the Ajaokuta-Kaduna-Kano pipeline was completed in December, while pilot hole drilling advanced on the Obiafu-Obrikom gas pipeline.
NNPC said all figures remain provisional pending final reconciliation with stakeholders.
($1 = 1,353.0500 naira)
*Tife Owolabi, Chijioke Ohuocha. Editing: Joe Bavier – Reuters
