NNPC in Talks with Chinese Firm for Nigeria Refinery Investment

The Nigerian National Petroleum Corporation (NNPC) is engaging in talks with a Chinese firm to explore a potential partnership involving Nigeria's refinery assets. Bayo Ojulari, the Group Chief Executive Officer of NNPC, revealed this during the Nigerian International Summit in Abuja.

The discussions are part of NNPC's broader strategy to revitalize its refinery assets through partnerships with experienced operators. The Chinese firm, described as one of China's largest petrochemical companies, is set to inspect the refinery as part of the negotiation process.

NNPC aims to establish a sustainable and commercially viable model for the refinery's operations, emphasizing the importance of a long-term commitment from investors. Despite facing operational challenges in recent years, NNPC is focused on rebuilding its internal capacity and support systems to ensure the refinery's profitability.

The corporation is not seeking contractors but rather equity partners to drive efficient and sustainable operations in the long term.