Nigeria's state oil firm has inked a partnership agreement with two Chinese companies to help restart refineries in Port Harcourt and Warri.
The memorandum of understanding was signed on April 30, 2026, in Jiaxing City. Three principals put pen to paper: NNPC Group Chief Executive Officer Bashir Bayo Ojulari, Sanjiang Chemical Company Chairman Guan Jianzhong, and Xinganchen Industrial Park Operation and Management Chairman Bill Bi.
NNPC's chief corporate communications officer Andy Odeh announced the deal via a press statement. The framework will guide completion of outstanding work at both refineries.
Both facilities will be overhauled to meet cleaner product standards and become more profitable. A detailed operational blueprint will ensure sustainable, best-in-class performance going forward.
The partnership doesn't stop at refining. It also explores ways to expand petrochemical operations at the two plants.
Developers want to build gas-based industrial hubs around the refineries. This approach aims to unlock downstream and gas sector opportunities simultaneously.
Ojulari told reporters the accord marks a watershed moment after six months of talks. Technical and management teams from all sides had worked intensively to reach this stage.
He emphasized the mutual benefits on offer. According to him, the three parties recognize opportunities for long-term profitability of Nigeria's refining assets.
Ojulari noted the MoU serves as a critical step in finding technical equity partners. He added that all sides remain committed to good-faith negotiations, pending necessary regulatory approvals.
