The Nigerian National Petroleum Company (NNPC) Ltd has taken a fresh step toward revitalising the country’s refining sector, signing a Memorandum of Understanding (MoU) with two Chinese firms to support the rehabilitation and expansion of the Port Harcourt and Warri refineries.
The agreement was signed in Jiaxing City, China, on April 30, 2026, between NNPC’s Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, Chairman of Sanjiang Chemical Company Limited, Guan Jianzhong, and Chairman of Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd, Bill Bi.
The proposed collaboration is structured around a potential technical equity partnership aimed at completing outstanding rehabilitation works and ensuring the efficient operation and maintenance of the two refineries. The arrangement is also expected to enhance performance standards and align operations with cleaner and more profitable product outputs.
Under the framework, the partners will explore opportunities to upgrade and expand the facilities, including boosting petrochemical production capacity and developing integrated, gas-based industrial hubs around the refinery locations. This approach is intended to unlock additional value across Nigeria’s downstream petroleum sector.
Ojulari described the MoU as a major milestone, noting that it followed over six months of intensive engagement between NNPC and the Chinese companies. He emphasised that all parties share a common vision of achieving long-term sustainability and profitability for Nigeria’s refining assets.
According to him, the agreement marks an important step in identifying suitable technical partners capable of supporting the restart and expansion of the country’s refineries, while also opening up new opportunities in petrochemicals and gas-based industries.
He added that the deal reflects a mutual commitment to continue discussions in good faith, with final agreements subject to regulatory approvals and further negotiations.
The development comes as Nigeria continues efforts to reduce dependence on imported petroleum products by restoring domestic refining capacity and strengthening its energy infrastructure.
