NNPC Limited has signed a Memorandum of Understanding (MoU) with two Chinese firms to advance plans for the rehabilitation, operation, and expansion of Nigeria’s key refining assets.
The agreement, reached with Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd, is aimed at establishing a potential technical equity partnership to support the completion and long-term performance of the Port Harcourt Refinery, Rivers State, Nigeria and Warri Refinery, Delta State, Nigeria.
The MoU was signed in Jiaxing, China on April 30, 2026, by NNPC Group Chief Executive Officer Bashir Bayo Ojulari, alongside the Chairman of Sanjiang Chemical, Guan Jianzhong, and Chairman of Xinganchen, Bill Bi.
Under the proposed framework, the partnership will focus on completing outstanding rehabilitation work at both refineries, as well as managing their operations and maintenance to achieve optimal and sustainable performance levels. Plans also include upgrades and expansion aimed at producing cleaner, higher-value petroleum products.
The collaboration is expected to extend beyond refining, with provisions to boost petrochemical production capacity and develop gas-based industrial hubs co-located with the facilities, thereby unlocking additional downstream opportunities.
Speaking after the signing ceremony, Ojulari described the agreement as a major milestone following over six months of engagement between NNPC and its prospective 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 added that the MoU represents a critical step toward securing technical equity partners capable of restarting and expanding the country’s refineries, while also exploring investments in petrochemicals and gas-based industries.
The agreement signals the parties’ intention to continue discussions in good faith, with final binding arrangements to be concluded subject to regulatory approvals and further negotiations.
