The Nigerian National Petroleum Company Limited has signed a Memorandum of Understanding with two Chinese firms aimed at restarting and expanding the Warri and Port Harcourt refineries.

This was disclosed in a press statement dated May 3, 2026, and signed by the company’s Chief Corporate Communications Officer, Andy Odeh.

The agreement was signed on April 30, 2026, in Jiaxing City, China, by the Group Chief Executive Officer of NNPC Ltd., Engr. Bashir Bayo Ojulari, alongside Guan Jianzhong, Chairman of Sanjiang Chemical Company, and Bill Bi, Chairman of Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd.

NNPCL said the proposed partnership framework is expected to include the completion of outstanding rehabilitation works at the Warri and Port Harcourt refineries, as well as their operation and maintenance, with a focus on ensuring efficient and sustainable performance.

The company added that the planned upgrades are expected to improve product quality and boost overall profitability.

The company also noted that the collaboration would extend beyond refinery rehabilitation to include expansion of petrochemical capacity and the development of wider gas and downstream opportunities through industrial hubs.

“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 statement reads in part.

Group CEO Bashir Bayo Ojulari described the agreement as a major milestone following months of engagement between NNPC Ltd. and the Chinese partners, saying it reflects growing alignment on the future of Nigeria’s refining assets.

“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 stated.

He further noted that the agreement marks a significant step toward securing technical equity partners required to restart and expand the refineries, while also unlocking new opportunities in petrochemicals and gas-based industries.

In February 2026, Ojulari disclosed that the refineries were shut down following internal assessments which showed they were operating at significant losses and eroding national value.

He also revealed that NNPC had, at the time, already begun discussions with a Chinese petrochemical company on plans to revive the refineries.