By Ayomide Otitoju
The Nigerian National Petroleum Company Limited has signed a Memorandum of Understanding (MoU) with two Chinese firms for a potential technical equity partnership aimed at completing, restarting, and expanding the Port Harcourt and Warri refineries.
The agreement was signed with Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd in Jiaxing City, China.
The MoU was executed by NNPC Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, alongside Sanjiang Chairman, Guan Jianzhong, and Xinganchen Chairman, Bill Bi, on April 30, 2026.
According to the agreement, the partnership framework will focus on completing outstanding rehabilitation works at the refineries, improving operational efficiency, and ensuring long-term sustainable performance. It also includes plans to upgrade both facilities to produce cleaner and more profitable petroleum products.
The collaboration further explores expanding petrochemical capacity and developing gas-based industrial hubs linked to the refinery sites.
Speaking after the signing, Ojulari described the agreement as a key milestone following months of engagement between both parties.
“All parties recognise mutually beneficial opportunities for the development and long-term sustainable profitability of NNPC’s refining assets in Nigeria,” he said.
He added that the MoU represents an important step toward identifying potential technical equity partners to restart and expand Nigeria’s refining infrastructure.
The agreement also signals intent to deepen cooperation in petrochemicals and downstream gas development, with any final arrangements expected to be subject to regulatory approvals and further negotiations.
