By Oke Peter
The Nigerian National Petroleum Company Limited (NNPC Ltd) has signed a Memorandum of Understanding (MoU) with two Chinese firms—Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd—to explore collaboration through a potential Technical Equity Partnership aimed at completing and operating the Port Harcourt and Warri refineries.
The MoU was signed on Thursday, April 30, 2026, in Jiaxing City, China, by the Group Chief Executive Officer of NNPC Ltd, Engr. Bashir Bayo Ojulari; Chairman of Sanjiang Chemical Company, Guan Jianzhong; and Chairman of Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd, Bill Bi.
According to NNPC, the proposed framework would focus on completing outstanding works at the two refineries and ensuring their efficient operation and maintenance to achieve best-in-class and sustainable performance.
The agreement also outlines plans for future expansion and upgrades aimed at improving product quality, enhancing profitability, and aligning the refineries with cleaner production standards.
In addition, the collaboration is expected to explore opportunities for expanding the petrochemical capacity of both facilities, while also leveraging gas and downstream potentials through the development of co-located gas-based industrial hubs.
Speaking after the signing ceremony, Ojulari described the MoU as a major milestone, noting that it followed over six months of intensive engagement between the technical and management teams of NNPC and the prospective Chinese partners.
“All parties recognise mutually beneficial opportunities for the development and long-term sustainable profitability of NNPC’s refining assets in Nigeria, and the collective weight required for success,” Ojulari stated.
He added that the MoU represents a significant step towards identifying credible technical equity partners to restart and expand NNPC’s refining operations, while also advancing discussions around petrochemical and gas-based industrial development.
NNPC emphasised that the MoU reflects a shared commitment by all parties to continue discussions in good faith, stressing that any binding agreement would be subject to further negotiations and customary regulatory approvals.
