The Nigerian National Petroleum Company Limited (NNPC) has reported total revenue of N60.5 trillion for 2024, alongside a profit after tax of N5.76 trillion.
According to the company’s monthly report released on Thursday and published on its website, NNPC remitted N14.706 trillion to statutory government agencies during the year.
The report revealed that crude oil and condensate production averaged 1.54 million barrels per day in December 2024, while natural gas production stood at 6.914 billion standard cubic feet per day.
NNPC’s retail outlets recorded 65 per cent availability in December, with upstream pipelines achieving 100 per cent availability during the same period.
On major infrastructure projects, the Obiafu-Obrikom-Oben (OB3) pipeline reached 91 per cent completion, while the Ajaokuta-Kaduna-Kano (AKK) pipeline project also stood at 91 per cent completion.
“December production performance was affected by planned maintenance work at Stardeep-Agbami and Renaissance-Estuary Area, as well as unplanned production facility outages,” the report noted.
In November 2024, NNPC’s monthly revenue declined by 14.17 per cent to N4.358 trillion, down from N5.078 trillion in October.
However, profit after tax rose by 12.3 per cent to N502 billion in November, compared with N447 billion the previous month.
The company made statutory payments of N967 billion to the government in October, bringing total remittances between January and October to N12.117 trillion.
READ ALSO:
- ANOH Begins Gas Supply to NLNG, Enters Full Commercial Operations
- Wike Says Nigerians Would Back Him Massively in Presidential Race
- Nigeria Set to Receive Revolutionary HIV Prevention Drug Lenacapavir in March
- Lagos State Announces Traffic Diversion Ahead of Ogunnusi Road Reconstruction in Ikeja
- U.S. Coast Guard Team Lands in Lagos for Key Port Security Assessment
