The Nigerian National Petroleum Company Limited (NNPC Ltd) has signed a Memorandum of Understanding (MoU) with two Chinese firms to explore a Technical Equity Partnership (TEP) aimed at supporting the completion, rehabilitation, and operation of the Port Harcourt and Warri refineries.
The agreement was signed in Jiaxing City, China, on Thursday, April 30, 2026, by the Group Chief Executive Officer of NNPC Ltd, Bayo Ojulari, alongside the Chairman of Sanjiang Chemical Company, Guan Jianzhong, and the Chairman of Xinganchen (Fuzhou) Industrial Park Operation and Management Co., Ltd, Bill Bi.
Under the proposed framework, the partnership will focus on completing outstanding rehabilitation works at the refineries, as well as operating and maintaining both facilities to ensure efficient and sustainable performance.
According to a statement by NNPC’s Chief Corporate Communications Officer, Andy Odeh, the plan also includes upgrading the refineries to produce cleaner and more commercially viable petroleum products.
The company said the MoU reflects a shared commitment to advance discussions in good faith, noting that any final agreements will be subject to necessary approvals.
It added that the proposed collaboration also envisions expanding the refineries’ petrochemical capacities and leveraging gas and downstream opportunities through the development of co-located, gas-based industrial hubs.
Speaking after the signing, Ojulari described the MoU as a major milestone following more than six months of engagements between technical and management teams from NNPC and the Chinese partners.
He said all parties recognise the mutual benefits of revitalising Nigeria’s refining assets and the importance of collaboration in achieving long-term sustainability and profitability.
Ojulari added that the agreement marks an important step towards identifying potential technical equity partners to restart and expand the refineries, while also unlocking opportunities in petrochemicals and gas-based industries.
The NNPC reiterated that the MoU is non-binding and serves as a framework for continued discussions, with any definitive arrangements to follow subject to regulatory and other approvals.
