The Nigerian National Petroleum Company Limited, NNPC Ltd, has signed a Memorandum of Understanding, MoU, with two Chinese firms to advance plans for the restart, completion, and expansion of the Warri and Port Harcourt refineries.
A statement by the Company’s Spokesperson, Andy Odeh, said the agreement, which was signed in Jiaxing City, China, brings together NNPC Ltd and its partners, Sanjiang Chemical Company Limited and Xingcheng, Fuzhou, Industrial Park Operation and Management Co. Ltd—under a proposed Technical Equity Partnership, TEP, framework aimed at revitalising Nigeria’s key refining assets.
NNPC’s Group Chief Executive Officer, Bashir Bayo Ojulari, signed the MoU alongside Chairman of Sanjiang Chemical Company, Guan Jianzhong, and Chairman of Xingcheng Industrial Park, Bill Bi.
Under the proposed collaboration, the parties will work towards completing outstanding rehabilitation works at both refineries while also taking on their operation and maintenance to ensure efficient, sustainable performance.
The plan further includes upgrading the facilities to produce cleaner and more commercially viable petroleum products.
Beyond refining, the partnership is expected to explore expansion into petrochemical production and the development of gas-based industrial hubs, leveraging co-located infrastructure to unlock additional downstream opportunities.
Speaking after the signing, Ojulari described the agreement as a major milestone achieved after more than six months of intensive engagements between NNPC and its prospective 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 weight required for success,” he said.
He added that the MoU marks a critical step towards securing technical equity partners capable of supporting the long-term revival and expansion of Nigeria’s refining capacity, while also opening new frontiers in petrochemicals and gas-based industries.
The agreement, however, reflects an initial commitment by all parties to continue discussions in good faith, with final binding arrangements subject to regulatory approvals and the conclusion of detailed negotiations.
The development underscores renewed efforts by NNPC Ltd to reposition Nigeria’s downstream sector, reduce dependence on fuel imports, and enhance value creation across the oil and gas value chain.
