The Nigerian National Petroleum Company Limited (NNPC Ltd) has signed a Memorandum of Understanding with two Chinese companies Sanjiang Chemical Company and Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd for collaboration through a potential Technical Equity Partnership in support of the completion and operation of the Port Harcourt and Warri refineries.
The agreement was signed by NNPC Group Chief Executive Officer Bayo Ojulari, Sanjiang Chairman Guan Jianzhong, and Xinganchen Chairman Bill Bi in Jiaxing City, China, on April 30, 2026.
Both refineries have remained largely inactive since May 24, 2025, when they were shut down for maintenance initially expected to last just 30 days.
Under the proposed framework, the Chinese partners are expected to bring engineering expertise, operational discipline, and investment capacity, with their returns tied to the performance of the refineries.
The scope of the collaboration includes the development of co-located gas-based industrial hubs, which could transform the Port Harcourt and Warri complexes into integrated energy and petrochemical centres.
Nigeria has four state-run refineries, including two in Port Harcourt, which together form the Port Harcourt Refining Company, with a combined installed capacity of 210,000 barrels per day.
Ojulari described the MoU as a significant milestone, reached after more than six months of engagement between the technical and management teams of NNPC and its two Chinese partners.
He added that the agreement is an important step toward identifying technical equity partners to restart and expand NNPC’s refineries, and to explore opportunities in co-located petrochemicals and gas-based industries.
NNPC noted that the MoU reflects the parties’ shared intent to progress discussions in good faith, with any definitive arrangements to follow in due course and subject to customary approvals.
