NNPC crude oil trading hits five-years high
Under the watch of the Nigerian National Petroleum Company (NNPC) Limited, Group Chief Executive (GCEO) Engr. Bashir Bayo Ojulari, the state -owned firm crude oil trading has hit 1.171 million
Under the watch of the Nigerian National Petroleum Company (NNPC) Limited, Group Chief Executive (GCEO) Engr. Bashir Bayo Ojulari, the state -owned firm crude oil trading has hit 1.171 million barrels per day (mbpd), the highest in five years.
Similarly, the NNPC Exploration and Production Limited (NEPL) achieved an all-time peak production of 365,000bpd in December 2025.
This was contained in the one year scorecard of Ojulari that the company released yesterday. The document was titled “NNPC April 2025 - April 2026- One Year Mandate Report Summary.”
The report also said in the period under review, Petroleum Prospecting Licenses 2000 and 2001 Production Sharing Contract (PSC) model were successfully executed.
According to NNPCL, it was the first PSC to include comprehensive terms designed to facilitate the development of deepwater non-associated gas resources.
The report disclosed that NNPC supported the former OPL 245- Zabazaba/Ethan Project and achieved the resolution of a long-standing dispute concerning OPL 245 that resulted in its own conversion to a new PPLs for PMLs 102, 103 and PPLs 2011, 2012.
On gas production, the report revealed that the Ajaokuta Kaduna Kano AKK River Niger crossing and welding of the entire line was achieved in July 2025.
NNPC also disclosed that in the period under review, it achieved the commissioning of the Assa North Ohaji South (ANOH) gas processing plant Obiafu-Obrikom-Oben (OB3) gas pipeline connections.
In 2025, according to the report, NNPC closed gas supply at 7.5bscf/d.
The period under review, NNPCL executed a Network Exit Agreement (NEXA) between NGIC and Dangote Fertilizer Ltd (DFL).
The report added that NNPC also executed a supply agreement between NNPC Has Marketing Limited (NGML) & Dangote Refinery.
Continuing, it revealed that NNPC optimized the Soku pipeline, which is a key infrastructure project to enhance gas production capacity.
On market expansion, the report said NNPC emplaced shipping partnership with Stena Bulk, Sonanagol.
According to the report, NNPC recorded the export of Cawthorne- a new grade oil grade and also expanded Oleum lubricant brand to the West African subregion.
On NNPC Ltd refineries, the report revealed that the company emplaced an incorporated Joint Venture (IJV) model to create a sustainable structure where refinery can self-finance and operate as a competitive business.
It further noted that NNPC equity stake in Dangote Refinery were consolidated, stressing “Consolidated our holding of 7.25% equity stake in the Dangote Refinery to ensure national interest.”
The report also revealed that in the period under review, NNPC secured Presidential approval for project -specific incentives to address the hurdles hindering the Final Investment Decision (FID) on Bonga South West Aparo project within the OML 118 PSC.
NNPC disclosed that it has sustained its support for Dangote Refinery through crude oil supply under the “crude -for- Naira” program.
In the one year, the report said NNPC signed a tripartite MOU with China Gas Holding Ltd and Pelygang Chemical Singapore PTE Ltd (PCCS) to unlock Nigeria’s vast gas resources.
NNPC, said the report, has resumed full monthly payment into the Federation Account and continued consistent payment since July 2025.
