NNPC signs MoU with Chinese firms to restart, expand Port Harcourt, and Warri refineries
Photo Caption: GCEO NNPC Ltd, Engr. Bashir Bayo Ojulari flanked by the Chairman, Sanjiang Chemical Company, Mr. Guan Jianzhong (left) and Chairman, Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd, Mr. Bill Bi (right), signing a Memorandum of Understanding for collaboration on Technical Equity Partnership (TEP) in support of the completion and operation of the Port Harcourt and Warri Refineries, in Jiaxing City, China,v
The Nigerian National Petroleum Company Limited has signed a Memorandum of Understanding (MoU) with two Chinese firms to advance the long-delayed restart and expansion of Nigeria’s key refining assets, marking a significant step in the country’s energy sector reform.
The agreement, signed in Jiaxing City, China, brings together NNPC Ltd, Sanjiang Chemical Company Limited, and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd under a proposed Technical Equity Partnership (TEP) framework.
The collaboration is aimed at supporting the completion, rehabilitation, and long-term operation of the Port Harcourt Refinery and Warri Refinery—two of Nigeria’s most strategic but underperforming refining facilities.
Under the proposed framework, the partners will focus on completing outstanding engineering works, improving operational efficiency, and maintaining both refineries to achieve globally competitive performance standards. The plan also includes upgrades to produce cleaner and more profitable refined products, aligning with evolving international fuel specifications.
NORS 2026 to accelerate Nigeria’s shift to refining self-sufficiency
Beyond refining, the MoU outlines ambitions to expand petrochemical production capacity and develop integrated gas-based industrial hubs around the facilities. These hubs are expected to unlock additional value across Nigeria’s downstream and midstream sectors, supporting industrialization and energy security.
NNPC Group Chief Executive Officer, Bashir Bayo Ojulari, described the agreement as a milestone following over six months of negotiations between the parties. He emphasized that the partnership reflects a shared commitment to delivering sustainable profitability and long-term value from Nigeria’s refining assets.
According to Ojulari, the MoU represents an early but critical step toward securing technical equity partners capable of revitalizing the country’s refining capacity, reducing dependence on fuel imports, and positioning Nigeria as a regional energy hub.
While the agreement signals strong intent, NNPC noted that any binding transaction will be subject to further negotiations and regulatory approvals.
Why It Matters (Business Insight):
For investors and global energy stakeholders, the deal highlights Nigeria’s renewed push to attract foreign technical and financial expertise into its refining sector. If successfully executed, the initiative could significantly reduce import reliance, improve foreign exchange stability, and strengthen West Africa’s largest economy’s position in global energy markets.
