The Nigerian National Petroleum Company Limited (NNPC Ltd) has signed a fresh deal with two Chinese companies to push forward work on the Port Harcourt and Warri refineries.
The agreement, sealed as a Memorandum of Understanding (MoU), brings in Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd under a Technical Equity Partnership.
The signing took place in Jiaxing City, China, with NNPC’s Group CEO, Bashir Ojulari, alongside Sanjiang’s chairman Guan Jianzhong and Xingcheng’s chairman Bill Bi.
Ojulari said the deal is aimed at finishing pending work on the two refineries and ensuring they run smoothly and efficiently once completed.
According to a statement released Monday by NNPC spokesperson Andy Odeh, the plan also includes upgrades that will make the refineries cleaner and more profitable.
“The potential collaboration also contemplates expanding the refineries’ petrochemical capacities and harnessing gas and downstream opportunities through the development of co-located, gas-based industrial hubs.
“The MoU execution is a significant milestone, following more than six months of concerted engagement between the technical and management teams of NNPC and the two Chinese partners, Sanjiang and Xinganchen.
“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 said.
He added the move is a key step toward finding the right partners to revive and grow Nigeria’s refining sector, while talks will continue before final approvals are secured.
