The Nigerian National Petroleum Company Limited has signed a Memorandum of Understanding with two Chinese companies to accelerate the rehabilitation and commercial restart of the Port Harcourt and Warri refineries, while laying the groundwork for a technical equity partnership aimed at achieving long-term operational performance.
The agreement was signed on April 30, 2026, in Jiaxing City, China, by NNPC Group Chief Executive Officer Bashir Bayo Ojulari, alongside Guan Jianzhong, Chairman of Sanjiang Chemical Company Limited, and Bill Bi, Chairman of Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd — the two firms party to the deal.
According to a statement issued on Monday by NNPC’s Chief Corporate Communications Officer, Andy Odeh, the MoU sets the stage for a potential Technical Equity Partnership to complete outstanding rehabilitation work at both refineries and ensure their sustained operational efficiency.
The collaboration, NNPC said, would extend beyond rehabilitation into full-scale operation and maintenance of the facilities, with a further scope covering expansion projects designed to reposition the plants for the production of cleaner fuels and higher-value petroleum products.
Ojulari described the agreement as the product of more than six months of intensive technical and commercial engagements, saying all parties had identified mutually beneficial opportunities for the long-term profitability of NNPC’s refining assets.
He framed the MoU as a strategic shift away from the contractor-led turnaround maintenance model that has repeatedly failed to deliver lasting results, toward a performance-driven framework anchored on shared risks and returns.
“This is an important step on the journey towards identifying potential technical equity partner or partners to restart and expand NNPC’s refineries, and to explore opportunities in co-located petrochemicals and gas-based industries,” Ojulari said.
Under the proposed framework, the Chinese partners are expected to contribute engineering expertise, operational discipline and investment capacity, with their financial returns tied directly to refinery performance.
The collaboration also envisages the development of co-located gas-based industrial hubs that could transform the Port Harcourt and Warri complexes into integrated energy and petrochemical centres, unlocking additional value from Nigeria’s gas reserves while supporting domestic manufacturing.
NNPC noted that any binding agreements arising from the MoU would be subject to regulatory approvals and the conclusion of detailed commercial negotiations.
The latest deal follows Ojulari’s remarks at the Nigeria International Energy Summit 2026, where he canvassed for global partners willing to take equity positions in Nigeria’s refining assets, arguing that the country’s refining challenges were not merely financial but deeply technical and operational.
“What we are doing differently is moving away from just funding projects to bringing in partners who have skin in the game — partners who will operate, optimise, and guarantee performance,” he had said at the summit.
Nigeria’s state-owned refineries in Port Harcourt, Warri, and Kaduna have suffered decades of underperformance, repeated shutdowns and failed rehabilitation programmes, leaving the country heavily dependent on imported petroleum products. The current administration has made refinery revival a central plank of its energy security agenda, alongside support for private investments such as the Dangote Refinery.
The NNPC’s renewed push for technical equity partners comes amid mounting pressure to curb fuel import dependence, stabilise domestic supply and conserve foreign exchange.
