The Nigerian National Petroleum Company (NNPC) Limited has entered into a Memorandum of Understanding (MoU) with two Chinese firms—Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd—to support the rehabilitation and expansion of the Port Harcourt and Warri refineries.
The agreement, signed on April 30, 2026, in Jiaxing City, China, outlines a potential Technical Equity Partnership (TEP) aimed at completing outstanding work on the refineries and ensuring their efficient operation and maintenance.
NNPC’s Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, signed the MoU alongside Guan Jianzhong, Chairman of Sanjiang Chemical Company, and Bill Bi, Chairman of Xingcheng Industrial Park Operation and Management Co. Ltd.
Under the proposed framework, the collaboration will focus on completing ongoing rehabilitation projects, improving operational efficiency, and upgrading the facilities to meet cleaner and more profitable production standards. The partnership also includes plans to expand petrochemical output and develop gas-based industrial hubs around the refinery locations.
Ojulari described the agreement as a major milestone achieved after over six months of discussions between NNPC and its Chinese partners. He noted that all parties are aligned on creating long-term value and ensuring the sustainable profitability of Nigeria’s refining assets.
He further explained that the MoU marks a critical step toward identifying suitable technical partners to fully revive and expand the refineries, while also unlocking opportunities in petrochemicals and gas-driven industries.
The agreement reflects a mutual commitment to continue negotiations in good faith, with final terms subject to necessary approvals.
