The Nigerian National Petroleum Company Limited (NNPC Limited) has signed a new agreement with two Chinese firms to support the restart, operation, and expansion of the Port Harcourt and Warri refineries.
The agreement, known as a Memorandum of Understanding (MoU), was signed with Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd in Jiaxing City, China.
According to NNPC, the partnership is expected to help complete remaining work on the refineries while also improving their operations and long-term performance.
The deal will also focus on upgrading the refineries to produce cleaner and more profitable petroleum products. In addition, the companies are exploring opportunities to expand petrochemical production and develop gas-based industrial hubs around the refinery locations.
Speaking after the signing ceremony, the Group CEO of NNPC Ltd, Bashir Bayo Ojulari, described the agreement as a major milestone after months of discussions between NNPC and the Chinese partners.
He explained that all parties involved see strong opportunities in improving Nigeria’s refining sector and ensuring the long-term profitability of the country’s refinery assets.
Ojulari also stated that the agreement is part of NNPC’s broader efforts to identify technical and investment partners that can help restart and expand refinery operations in Nigeria.
The collaboration is still at the discussion stage, and any final agreement will depend on approvals and further negotiations between the parties.
The latest development comes as NNPC continues to push major infrastructure and energy projects across the country.
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