NNPC Inks MoU with Chinese Firms to Revive Port Harcourt and Warri Refineries
The Nigerian National Petroleum Company Limited has signed a Memorandum of Understanding with two Chinese partners to complete and operate the Port Harcourt and Warri refineries. The agreement was sealed by the NNPC Ltd Group CEO and the chairmen of both Chinese firms in Jiaxing City, China. Under the previous administration, Nigeria spent US$2.39 billion on refinery repairs. Port Harcourt briefly resumed production in November 2024 but shut down after six months. Earlier, the Federal Executive Council approved over US$1.4 billion for similar projects in 2021. NNPC’s CEO described the MoU as a significant milestone after six months of talks. He highlighted the joint focus on reviving refining operations and exploring petrochemical and gas-based industries alongside. The cost of the new rehabilitation was not disclosed. The partnership marks a fresh step toward restoring Nigeria’s refining capacity.
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