The Nigerian National Petroleum Company Limited (NNPC Ltd) has signed a Memorandum of Understanding (MoU) with two Chinese firms to explore a possible Technical Equity Partnership aimed at completing and running the Port Harcourt and Warri refineries.
The agreement was signed on April 30, 2026, in Jiaxing City, China.
Those present at the signing included NNPC’s Group Chief Executive Officer, Bayo Ojulari; Chairman of Sanjiang Chemical Company, Guan Jianzhong; and Chairman of Xinganchen (Fuzhou) Industrial Park Operation and Management Co., Ltd, Bill Bi.
Under the proposed partnership, the focus will be on finishing remaining work at both refineries, as well as managing and maintaining them to meet high operational standards over time.
NNPC said the plan also includes upgrading and expanding the facilities to produce cleaner fuels and improve profitability.
This was made known in a statement by the company’s Chief Corporate Communications Officer, Andy Odeh.
The company explained that the agreement shows the intention of all parties to continue discussions in good faith, while final terms will be decided later and will require necessary approvals.
“The potential collaboration also contemplates expanding the refineries’ petrochemical capacities and harnessing gas and downstream opportunities through the development of co-located, gas-based industrial hubs,” it added.
Speaking after the signing, Ojulari described the agreement as an important step forward after more than six months of talks between NNPC and the Chinese companies.
“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,” Ojulari noted.
He said all parties see clear benefits in working together to improve the performance and long-term profitability of the refineries, noting that strong collaboration will be key to success.
“The MoU reflects 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 added.
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