NNPC Signs China Deal to Revive Refineries

The Nigerian National Petroleum Company Limited (NNPC) has signed a new agreement with two Chinese firms to accelerate the rehabilitation and restart of the Port Harcourt and Warri refineries, nearly a year after the Port Harcourt plant was shut for maintenance.

The deal, structured as a Memorandum of Understanding (MoU), was signed with Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd in Jiaxing City, China, on April 30, 2026.

According to NNPC, the partnership marks a “critical milestone” in its refinery transformation drive, shifting from contractor-led rehabilitation to a technical equity model where partners share risks and returns.

Group CEO Bashir Bayo Ojulari said: “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.”

The MoU covers completion of outstanding work at the refineries, operation and maintenance for sustainable performance, and planned expansions to produce cleaner fuels and petrochemicals. It also contemplates gas-based industrial hubs co-located with the refineries.

Ojulari stressed that the new model would ensure accountability: “The days of spending billions on rehabilitation without sustainable output are behind us. We are now focused on partnerships that deliver value, technology transfer, and operational excellence.”

The Port Harcourt refinery, with a capacity of 210,000 barrels per day, had briefly resumed operations in late 2024 after a $1.5bn rehabilitation but was shut again in May 2025. The Warri refinery, with 125,000 barrels per day capacity, is undergoing a separate $897m rehabilitation.

NNPC says the new partnership aims to finally unlock the long-elusive potential of Nigeria’s refining sector, reduce reliance on imports, and integrate refining with petrochemicals and gas monetisation to create “real economic value.”