The Nigerian National Petroleum Company Ltd. (NNPC) has signed a memorandum of understanding with two Chinese firms to support the restart, completion and expansion of the Warri and Port Harcourt refineries.
NNPC signed the agreement with Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd. under a potential technical equity partnership framework.
The agreement was signed on Thursday in Jiaxing City, China, by NNPC Group Chief Executive Officer Bashir Bayo Ojulari, Sanjiang Chemical Chairman Guan Jianzhong, and Xingcheng Chairman Bill Bi.
According to NNPC, the proposed partnership will focus on completing outstanding rehabilitation works at the refineries, as well as operating and maintaining the facilities to improve efficiency and output.
The company said the plan also includes possible expansion of the refineries into cleaner and more profitable product lines, alongside petrochemical development and gas-based industrial hubs.
Ojulari described the agreement as a key milestone after months of technical discussions between both sides.
“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 early step toward identifying technical equity partners to restart and expand Nigeria’s refineries, subject to final agreements and regulatory approvals.
