Samson Echenim 
Despite unimproved production in the month of May, the Nigerian National Petroleum Company Limited (NNPCL) has reported crude oil sales valued at N6 trillion in the month of May.
The NNPCL in its Monthly Report for May 2025, released on Monday, indicated that crude oil sales increased slightly to N6.008 trillion from N5.972 trillion in April, with a profit after tax of N1.054 trillion, up from N926 billion in April.
Despite a redundant growth in crude oil production in May, NNPCL reported a significantly improved sales value, a situation analysts hinged on the crisis in the Middle East and the Russia-Uktaine war which have led to an increase in price of oil.
NNPCL’s report highlighted key figures, including crude oil and condensate production, natural gas output, revenue, profit after tax, and strategic initiatives during the period.
Data from the Central Bank of Nigeria (CBN) shows that crude oil sales closed at $65.73 per barrel in May, relative to $64.88 in April.
The latest monthly NNPCL’s report indicates that crude oil and condensate production rose to 1.63 million barrels per day (bpd) from 1.61 million bpd in April, peaking at 1.72 million bpd for the month.
A breakdown of the report, however, shows that crude oil output held flat at 1.35 million bpd from the same figure in April.
The condensate volumes, however, recovered slightly to 280,000 bpd in May from 260,000 bpd in April.
“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,” NNPCL said.
