NNPC Evaluates Chinese Partnership for Refinery Rehab

The Nigerian National Petroleum Company Limited (NNPC) has entered the evaluation phase of a partnership deal with Chinese firms, Sanjiang Chemical Company Limited and Xinganchen Fuzhou Industrial Park Operation Management Co. Ltd., to rehabilitate the Port Harcourt and Warri refineries.

NNPC's Group Chief Executive Officer, Bayo Ojulari, disclosed this on Friday, emphasizing that the arrangement aims to create a profit self-sustaining refining asset. The memorandum of understanding (MoU) signed does not constitute a final agreement but allows for due diligence and technical assessments to ensure commercial viability.

The Port Harcourt refinery has a combined capacity of 210,000 barrels per day, while the Warri refinery has a capacity of 125,000 barrels per day. The initiative is part of a broader strategy to unlock investments across the energy value chain and reduce Nigeria's reliance on imported petroleum products.

The NNPC has faced challenges with operational setbacks and repeated shutdowns in its refineries, prompting calls for expedited negotiations with international partners.