The Nigerian National Petroleum Company Limited (NNPC Ltd) has signed a Memorandum of Understanding (MoU) with two Chinese firms to advance plans for the completion and operation of the Port Harcourt and Warri refineries.
The agreement, executed in Jiaxing City, China, involves NNPC Ltd and its prospective partners under a Technical Equity Partnership (TEP) framework aimed at restoring and expanding Nigeria’s refining capacity.
The MoU was signed by the company’s Group Chief Executive Officer, Bayo Ojulari, alongside Guan Jianzhong of Sanjiang Chemical Company and Bill Bi of Xinganchen (Fuzhou) Industrial Park Operation and Management Co., Ltd.
According to the NNPC, the proposed collaboration will focus on completing outstanding work at the refineries, as well as operating and maintaining the facilities to achieve sustainable, high-performance output.
The company added that planned upgrades and expansions would improve efficiency and align production with cleaner and more profitable fuel standards.
“The MoU reflectes the parties’ shared intent to progress discussions in good faith, with any definitive arrangements to follow in due course and subject to customary approvals,” the statement said.
Beyond refining, the partnership is also expected to explore petrochemical development and gas-based industrial opportunities, including the creation of co-located industrial hubs.
Speaking after the signing, Ojulari described the agreement as a major milestone following more than six months of negotiations between NNPC and the Chinese 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 also noted that the MoU represents a critical step toward identifying technical equity partners capable of restarting and expanding the country’s refineries, while also unlocking opportunities in petrochemicals and downstream gas sectors.
The Port Harcourt refinery in Port Harcourt and the Warri refinery in Warri are among Nigeria’s key refining assets, long seen as central to reducing dependence on imported petroleum products.
