NNPC Partners with Chinese Firms to Revive Refineries

NNPC Ltd has signed a memorandum of understanding (MoU) with Sanjiang Chemical Company Limited and Xinganchen Fuzhou Industrial Park Operating Co. Ltd to rehabilitate its refineries after an investment of N3.2 trillion.

The agreement was signed by Andi Odeh, NNPC's Chief Corporate Communications Officer, and Engr Bashir Bayo Ojulari, Group CEO of NNPC Ltd. The Port Harcourt refinery is projected to resume production in November 2024, with a capacity of 150,000 barrels per stream day, contributing to a total combined capacity of 210,000 barrels per stream day for both the Port Harcourt and the rehabilitated Warri and Kaduna refineries.

The Federal Executive Council approved N1.5 billion for the rehabilitation of the Port Harcourt refinery in March 2021 and N1.48 billion for the Warri and Kaduna refineries in August 2021. Timipre Sylva, Minister of State for Petroleum Resources, announced that the rehabilitation of the Warri and Kaduna refineries would be completed in three phases over 21 to 33 months.