By Gabriel Ameh
📍Abuja | Media360Impact Report
The Nigerian National Petroleum Company Limited (NNPCL) has signed a Memorandum of Understanding (MoU) with two Chinese firms to support the rehabilitation, completion, and operation of the Port Harcourt and Warri refineries.
The agreement, structured as a Technical Equity Partnership (TEP), was signed with Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd. in Jiaxing City, China.
NNPCL’s Group Chief Executive Officer, Bashir Ojulari, described the partnership as a major step toward restoring Nigeria’s refining capacity and ensuring sustainable operations of the facilities.
According to him, the collaboration will focus on completing outstanding rehabilitation work, as well as operating and maintaining the refineries to achieve globally competitive performance standards.
Ojulari noted that the partnership also includes plans to upgrade and expand the facilities to produce cleaner and more profitable petroleum products.
He added that the agreement opens opportunities for expanding petrochemical production and developing gas-based industrial hubs around the refineries, aimed at boosting downstream value and economic growth.
The NNPCL boss explained that the MoU follows months of engagement between both parties and reflects a shared commitment to unlocking the long-term value of Nigeria’s refining assets.
He emphasized that the deal represents a significant milestone in the search for technical partners to restart and expand refinery operations, while discussions will continue toward final agreements subject to regulatory approvals.
The development is expected to strengthen Nigeria’s energy security and reduce dependence on imported petroleum products.
