NNPC picks Chinese firms to revive Port Harcourt, Warri refineries
NNPC Limited’s Group Chief Executive Officer Bayo Ojulari explained why the company selected two Chinese firms, Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd, for a potential technical equity partnership to revive and operate Nigeria’s Port Harcourt and Warri refineries. He said the choice followed a nine‑month review of more than 50 potential partners, narrowed to about 20, and that the Chinese firms stood out because they proposed an equity partnership—investing their own resources—while most other suitors wanted equity stakes or significant control of the refineries.
Ojulari defended the firms’ technical capacity, noting that NNPC conducted independent due diligence, including personal visits to their facilities in China where they operate a major petrochemical plant and hold a stake in a Chinese refinery. He stressed that the partnership aims to complete outstanding work and ensure efficient, sustainable, best‑in‑class operation of the refineries, which together have a combined installed capacity of 335,000 barrels per day.
He also warned that some stakeholders may be unhappy with the decision and could spread misleading reports, urging Nigerians to scrutinise such claims. No final agreement has been signed yet; NNPC will continue to verify credibility and monitor the partnership’s progress.