NNPC, Chinese firms seal MoU to revive moribund Warri and Port Harcourt refineries

THE Nigerian National Petroleum Company Limited (NNPC) has entered into a memorandum of understanding (MoU) with two Chinese companies to explore a joint partnership aimed at completing and operating the Port Harcourt and Warri refineries.

The agreement was formalised on April 30 in Jiaxing City, China, with Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd.

In a statement issued on Monday, NNPC’s Chief Corporate Communications Officer, Mr Andy Odeh, explained that the proposed arrangement will take the form of a technical equity partnership.

Under the framework, the partners will focus on completing outstanding rehabilitation work at the refineries, alongside overseeing their operation and long-term maintenance.

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NNPC also noted that the collaboration will assess opportunities to expand and upgrade the facilities in order to enhance efficiency and drive profitability.

Commenting on the development, the company’s Group Chief Executive Officer, Mr Bashir Ojulari, said the agreement followed months of sustained engagement among the parties.

He stated that all stakeholders recognise the mutual benefits tied to developing NNPC’s refining assets and ensuring their long-term commercial viability.

Ojulari described the MoU as a critical step toward securing technical partners capable of restarting and scaling up refinery operations across the country.

He added that ongoing discussions will also examine plans to build petrochemical capacity and establish gas-based industrial hubs around the refinery locations.

NNPC emphasised that the MoU signals an intention to deepen negotiations, with final agreements subject to regulatory and corporate approvals.

Earlier, on July 11, 2025, Ojulari had acknowledged that efforts to rehabilitate Nigeria’s state-owned refineries had become increasingly complex.

READ ALSO: Why NNPC’s contract-driven model sank refineries

Subsequently, about three months later, NNPC disclosed that it had begun a comprehensive technical and commercial review of the dormant refineries in Warri, Port Harcourt, and Kaduna.

In November of the same year, Special Adviser on Energy, Ms Olu Verheijen, had revealed that the administration of Bola Tinubu remains open to the potential sale of NNPC’s refinery assets.