The Nigerian National Petroleum Company Limited (NNPC) has signed a Memorandum of Understanding with two Chinese firms to advance plans for the completion and operation of the Warri and Port Harcourt refineries.
The agreement, executed in Jiaxing City, China, on April 30, 2026, involves NNPC Ltd’s Group Chief Executive Officer, Bayo Ojulari, alongside Guan Jianzhong of Sanjiang Chemical Company and Bill Bi of Xinganchen Industrial Park Operation and Management Co., Ltd.
According to a statement issued by NNPC spokesperson Andy Odeh, the MoU outlines a potential Technical Equity Partnership aimed at completing outstanding work and ensuring the efficient operation and maintenance of both refineries.
The partnership is expected to drive upgrades that will improve product quality and boost profitability, while aligning operations with cleaner energy standards.
NNPC Ltd said the collaboration could also support expansion into petrochemicals and gas-based industrial hubs, leveraging opportunities within the downstream sector.
Ojulari described the agreement as a milestone following over six months of engagement between the parties, noting that it reflects a shared commitment to achieving long-term sustainability for Nigeria’s refining assets.
He added that the MoU marks a key step towards identifying technical equity partners to revitalise the country’s refineries and unlock broader industrial opportunities.
The company emphasised that the agreement signals intent, with final terms subject to further negotiations and regulatory approvals.
Source: NNPC Ltd statement
