NNPC Limited has partnered with two Chinese firms under a new technical equity model to finalize the rehabilitation, operation, and future expansion of the Port Harcourt and Warri refineries.
The Nigerian National Petroleum Company Limited (NNPC) has signed a Memorandum of Understanding (MoU) with two Chinese firms to accelerate the rehabilitation, commercial restart, and expansion of the Port Harcourt and Warri refineries. The agreement, executed on April 30, 2026, in China, partners NNPC with Sanjiang Chemical Company Limited and Xingcheng Industrial Park Operation and Management Co. Ltd.
This deal introduces a performance-driven Technical Equity Partnership model, shifting away from traditional contractor-led turnarounds that historically failed to deliver sustainable results. Under this framework, the Chinese partners will provide engineering expertise, capital, and operational discipline, tying their investment returns directly to refinery performance.
Emphasizing the strategic pivot toward accountability, NNPC Group CEO Bashir Bayo Ojulari stated: “What we are doing differently is moving away from just funding projects to bringing in partners who have skin in the game, partners who will operate, optimise, and guarantee performance.”
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