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Nigerian National Petroleum Company Limited (NNPC Ltd) has signed a Memorandum of Understanding (MoU) with two Chinese companies, Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd, to explore the potential of a Technical Equity Partnership (TEP) aimed at completing and operating the Port Harcourt and Warri refineries.
The agreement was signed in Jiaxing City, China, on April 30, 2026, by Group Chief Executive Officer of NNPC Ltd, Bashir Bayo Ojulari, together with Chairman of Sanjiang Chemical Company, Guan Jianzhong, and Chairman of Xinganchen (Fuzhou) Industrial Park Operation and Management Co., Ltd, Bill Bi.
According to a statement by Chief Corporate Communications Officer, Andy Odeh, the proposed framework will focus on completing the outstanding rehabilitation work at the refinery as well as the operation and maintenance of both facilities to achieve efficient and sustainable performance.
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The collaboration also includes expansion and improvement plans to enable cleaner and more profitable production processes. It also envisages the development of expanded petrochemical capacities and the creation of a gas-based industrial center connected to the refinery.
Speaking after the signing, the NNPC Group CEO described the MoU as an important milestone after more than six months of technical and managerial cooperation between the parties.
He noted that all stakeholders recognize the mutual benefits of this partnership and the need for collective efforts to ensure the long-term profitability and sustainability of Nigeria’s refining assets.
Ojulari explained that the agreement is an important step in identifying potential technical equity partners for the revival and expansion of the refinery, as well as exploring opportunities in the development of petrochemical and gas-based industries.
He emphasized that the MoU reflects a shared commitment to advance discussions in good faith, and a final agreement is expected to follow, subject to necessary approvals.
