The Nigerian National Petroleum Company (NNPC) has signed a Memorandum of Understanding (MoU) with two Chinese firms to facilitate a potential technical equity partnership. This collaboration aims to support the completion and operation of the Port Harcourt and Warri refineries.
Bashir Bayo Ojulari, NNPC GCEO; Guan Jianzhong, Sanjiang Chemical Company Chairman; and Bill Bi, Xinganchen (Fuzhou) Industrial Park Operation and Management chairman, signed the agreement in Jiaxing City on April 30, 2026, a press release signed by Andy Odeh, the chief corporate communications officer, NNPC Ltd revealed.
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Strategic framework for operational efficiency
The framework covers the completion of outstanding work at both facilities. It also establishes a roadmap for operating and maintaining the refineries to achieve sustainable, best-in-class performance. Proposed upgrades are expected to transition the plants to cleaner and more profitable product standards.
According to the document, the partnership also explores expanding the refineries’ petrochemical capacities. The parties intend to leverage gas and downstream opportunities by developing co-located, gas-based industrial hubs.
Long-term assets and sustainable growth
Speaking after the ceremony, Ojulari described the MoU as a significant milestone following six months of engagement between technical and management teams. He noted that all parties recognise the mutually beneficial opportunities for the long-term profitability of Nigeria’s refining assets.
Ojulari stated that the MoU is a critical step in identifying technical equity partners to restart and expand the refineries. The agreement reflects a shared intent to progress discussions in good faith, with definitive arrangements subject to customary regulatory approvals.
