NNPC Signs MoU with Chinese Firms to Revive Port Harcourt, Warri Refineries
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has signed a Memorandum of Understanding (MoU) with two Chinese firms to advance the completion and operation of the Port Harcourt and Warri refineries.
The agreement, signed in Jiaxing City, China, on April 30, 2026, involves a proposed Technical Equity Partnership (TEP). Signatories include the Group Chief Executive Officer of NNPC Ltd., Mr. Bayo Ojulari; Chairman of Sanjiang Chemical Company, Mr. Guan Jianzhong; and Chairman of Xinganchen (Fuzhou) Industrial Park Operation and Management Co., Ltd., Mr. Bill Bi.
According to a statement issued on Monday by the Chief Corporate Communications Officer of NNPC Ltd., Mr. Olufemi Soneye, the framework is expected to cover the completion of outstanding work on both refineries, as well as their operation and maintenance to achieve sustainable, best-in-class performance.
The statement added that planned upgrades and expansions would enable the facilities to meet cleaner and more profitable product standards.
It further noted that the collaboration could extend to expanding petrochemical capacities and leveraging gas and downstream opportunities through the development of co-located, gas-based industrial hubs.
Speaking after the signing, Mr. Ojulari described the MoU as a significant milestone following over six months of sustained engagement between NNPC Ltd. and its prospective Chinese partners.
“All parties recognise mutually beneficial opportunities for the development and long-term sustainable profitability of NNPC’s refining assets in Nigeria, and the collective effort required for success,” he said.
Mr. Ojulari added that the agreement marks an important step towards identifying suitable technical equity partners to restart and expand Nigeria’s refining capacity, while also exploring opportunities in petrochemicals and gas-based industries.
“The MoU reflects the parties’ shared intention to advance discussions in good faith, with any final agreements subject to customary approvals,” the statement said.
