… MoU contemplates expanding refineries’ petrochemical capacities, harnessing gas, downstream opportunities
Oredola Adeola
The NNPC Ltd has signed a Memorandum of Understanding (MoU) with two Chinese companies, Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd, for collaboration through a potential Technical Equity Partnership (TEP) in support of the completion and operation of the Port Harcourt and Warri Refineries.
Andy Odeh, Chief Corporate Communications Officer, NNPC Ltd. made this known in statement obtained by Advisors Reports.
According to Odeh, the MoU was signed by the Group CEO, NNPC Ltd, Engr. Bayo Ojulari; Chairman, Sanjiang Chemical Company, Guan Jianzhong and Chairman of Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd, Bill Bi, in Jiaxing City, China, on Thursday, April 30, 2026.
He revealed that the potential framework would cover completion of outstanding work at the two refineries, together with operating and maintaining both facilities to achieve best-in-class, sustainable performance.
“Planned expansion and upgrades would elevate both facilities to cleaner, more profitable product standards.
“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,” Odeh revealed in the statement.
Engr. Ojulari, speaking shortly after the signing, described the MoU execution as 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 noted.
The GCEO further stated that the MoU is an important step on the journey towards identifying potential technical equity partner(s) to restart and expand NNPC’s refineries, and to explore opportunities in co-located petrochemicals and gas-based industries.
The MoU reflects the parties’ shared intent to progress discussions in good faith, with any definitive arrangements to follow in due course and subject to customary approvals.