NNPCL Partners Chinese Firms, Signs MoU On Port Harcourt And Warri Refineries

The Nigerian National Petroleum Company Limited has entered into a Memorandum of Understanding with two Chinese firms as part of efforts to secure a potential technical equity partnership for the completion and operation of the Port Harcourt and Warri refineries.

According to Ireporter Online, the agreement involves Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd. The deal was formalised in Jiaxing City, China, on April 30, 2026, and announced in a statement issued on Monday by NNPCL’s Chief Corporate Communications Officer, Andy Odeh.

The MoU was signed by NNPCL’s Group Chief Executive Officer, Bashir Bayo Ojulari, alongside the Chairman of Sanjiang Chemical, Guan Jianzhong, and the Chairman of Xingcheng Industrial Park, Bill Bi.

Ojulari described the agreement as a significant breakthrough following over six months of engagements between both parties, noting that it reflects a shared commitment to unlocking value in Nigeria’s refining sector. He explained that the partnership is aimed at identifying capable collaborators to support the restart, expansion and long-term profitability of the nation’s refining assets.

He further stated that the initiative aligns with NNPCL’s broader strategy to attract technical equity partners, adding that the arrangement could also extend to opportunities in petrochemical projects and gas-based industries located alongside the refineries.

While the agreement is expected to open new technical and commercial discussions on improving refinery performance, details regarding the financial structure of the partnership remain undisclosed. It is unclear whether the Chinese firms will provide funding, technical expertise, equity participation, or operational management.

The development comes amid ongoing scrutiny of Nigeria’s refinery rehabilitation efforts, which have seen substantial public investment over the years. Under the administration of former President Muhammadu Buhari, about $2.39 billion was reportedly spent on refurbishing the Port Harcourt and Warri refineries. The Federal Executive Council had approved $1.5 billion for the Port Harcourt refinery in March 2021, followed by $1.48 billion for the Warri and Kaduna facilities later that year.

Former Minister of State for Petroleum Resources, Timipre Sylva, had disclosed that the Warri and Kaduna projects were awarded to Saipem firms, with detailed allocations and a phased completion timeline.

Although the Port Harcourt refinery reportedly resumed operations in November 2024, it was said to have shut down roughly six months later, raising fresh concerns about sustainability. Meanwhile, the Warri refinery remains central to government plans to boost domestic refining capacity and reduce reliance on imported petroleum products.

Industry observers note that the latest MoU signals a renewed push by NNPCL to adopt a more sustainable and commercially viable model for refinery operations through strategic technical and equity partnerships.