NNPC, Chinese firms sign MoU to revive Port Harcourt, Warri refineries

NNPC, Chinese firms sign MoU to revive Port Harcourt, Warri refineries

The Nigerian National Petroleum Company (NNPC) Ltd has signed a Memorandum of Understanding (MoU) with two Chinese companies, Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd., for collaboration through a potential Technical Equity Partnership (TEP) in support of the completion and operation of the Port Harcourt and Warri Refineries

NNPC boss, Bayo Ojulari signing MoU with Chinese firms to revive Nigerian refineries

The MoU was signed by the Group CEO, NNPC Ltd, Engr. Bashir Bayo Ojulari; Chairman, Sanjiang Chemical Company, Guan Jianzhong; and Chairman of Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd., Bill Bi, in Jiaxing City, China, on Thursday, April 30, 2026.

According to the statement on Monday by the Chief Corporate Communications Officer, NNPC Ltd., Andy Odeh, the potential framework would cover completion of outstanding work at the two refineries, together with operating and maintaining both facilities to achieve best-in-class, sustainable performance.

“Planned expansion and upgrades would elevate both facilities to cleaner, more profitable product standards. The potential collaboration also contemplates expanding the refineries’ petrochemical capacities and harnessing gas and downstream opportunities through the development of co-located, gas-based industrial hubs,” the statement read.

Speaking shortly after the signing, the GCEO of NNPC Ltd, Engr. Bashir Bayo Ojulari, described the MoU execution as a significant milestone, following more than six months of concerted engagement between the technical and management teams of NNPC and the two Chinese partners, Sanjiang and Xinganchen.

“All parties recognise mutually beneficial opportunities for the development and long-term sustainable profitability of NNPC’s refining assets in Nigeria and the collective weight required for success,” Ojulari noted.

The GCEO further stated that the MoU is an important step on the journey towards identifying potential technical equity partner(s) to restart and expand NNPC’s refineries and to explore opportunities in co-located petrochemical and gas-based industries.

“The MoU reflects the parties’ shared intent to progress discussions in good faith, with any definitive arrangements to follow in due course and subject to customary approvals,” he said.

Recall that apart from various Turnaround Maintenance (TAM) the refineries had undergone in the past, the Federal Executive Council in March 2021, under the watch of the late President Muhammadu Buhari, approved another round of spending on the facilities.

While the Port Harcourt Refinery received $1.5 billion for its rejuvenation, the Warri Refinery received $897.6 million, and the Kaduna Refinery was to be repaired for $740.67 million, totaling about $3.14 billion.

Despite the big deals involved in the refineries’ rehabilitation, the facilities refused to deliver any value to Nigerians.