The Nigerian National Petroleum Company Limited has signed a memorandum of understanding with two Chinese firms to explore the completion and operation of the Port Harcourt and Warri refineries.
The agreement, disclosed in a statement dated May 3, 2026, marks a fresh step in efforts to restore Nigeria’s refining capacity.
MoU signed in China
According to NNPC, the MoU was signed on April 30, 2026, in Jiaxing City, China.
The deal was executed by NNPC Group Chief Executive Officer, Bashir Bayo Ojulari, alongside Guan Jianzhong of Sanjiang Chemical Company and Bill Bi of Xinganchen Industrial Park.
The partnership is expected to focus on completing outstanding rehabilitation work and supporting the operation and maintenance of both refineries.
Focus on expansion, cleaner fuel
NNPC said the collaboration would also explore expansion and upgrade options for the facilities.
This includes plans to meet cleaner fuel standards, improve profitability and increase petrochemical production.
The arrangement is further expected to support the development of gas-based industrial hubs around the refineries.
Ojulari described the agreement as a significant milestone after months of negotiations.
“All parties recognise mutually beneficial opportunities for the development and long-term sustainability of NNPC’s refining assets,” he said.
Agreement not yet final
The NNPC boss clarified that the MoU is non-binding and subject to regulatory approvals and further negotiations.
He added that it is part of broader efforts to secure technical partners for the rehabilitation and long-term management of Nigeria’s refining infrastructure.
Background on refinery projects
The Port Harcourt refinery rehabilitation was approved in 2021 at a cost of about $1.5 billion to restore its 210,000 barrels per day capacity.
Similarly, the Warri refinery is undergoing upgrades valued at around $897 million to revive its 125,000 barrels per day capacity and integrate petrochemical production.
The Port Harcourt facility briefly resumed operations in late 2024 after years of shutdown but was later halted again due to operational and financial issues.
The projects are part of NNPC’s wider strategy to reduce dependence on imported petroleum products and strengthen local refining capacity.