Nigeria’s national oil company, NNPC Ltd, has signed a Memorandum of Understanding (MoU) with two Chinese companies to collaborate on a potential Technical Equity Partnership aimed at the completion and operation of the Port Harcourt and Warri refineries, according to a statement from NNPC Ltd.
The two firms are Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd.
The MoU was signed in Jiaxing City, China, on Thursday, April 30, 2026, by the Group CEO of NNPC Ltd, Engr. Bashir Bayo Ojulari; the Chairman of Sanjiang Chemical Company, Guan Jianzhong; and the Chairman of Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd, Bill Bi.
The potential collaboration will focus on completing outstanding work at the two refineries and ensuring their operation and maintenance to achieve best-in-class, sustainable performance. Planned expansions and upgrades will elevate both refineries to cleaner, more profitable product standards.
Additionally, the collaboration aims to expand the refineries’ petrochemical capacities and capitalize on gas and downstream opportunities through the development of co-located, gas-based industrial hubs.
Speaking shortly after the signing, Engr. Bashir Bayo Ojulari, GCEO of NNPC Ltd, described the MoU as a significant milestone, following over six months of intensive engagement between the technical and management teams of NNPC and the two Chinese partners.
“All parties recognize mutually beneficial opportunities for the development and long-term sustainable profitability of NNPC’s refining assets in Nigeria, as well as the collective efforts required for success,” Ojulari said.
The GCEO further emphasized that the MoU is a significant step in identifying potential technical equity partners to restart and expand NNPC’s refineries, as well as exploring opportunities in co-located petrochemicals and gas-based industries.
The MoU reflects the parties’ shared intent to proceed with discussions in good faith, with any definitive agreements to follow in due course and subject to customary approvals.
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