The Nigerian National Petroleum Company Limited (NNPC) is still evaluating potential technical and financial partners for the completion and long-term operation of the Warri and Port Harcourt refineries. This development comes amid renewed calls from petroleum marketers for the government-owned refineries to resume production as petrol and diesel prices rise. The NNPC has begun preliminary technical assessments of both facilities following an April 2026 memorandum of understanding with Sanjiang Chemical Company.
The latest position from NNPC comes amid renewed pressure from petroleum marketers for the Federal Government and NNPC Ltd to accelerate efforts to return the government-owned refineries to production. Joseph Obele, the National Public Relations Officer of the Petroleum Products Retail Outlets Owners Association of Nigeria, had urged the government and NNPC to restart the facilities, arguing that increased domestic refining would reduce the country’s dependence on imported petroleum products.
Petrol prices have reached between ₦1,400 and ₦1,500 per litre in some locations, while diesel has risen above ₦2,000 per litre. Obele said that greater domestic refining would help cushion consumers from the impact of higher international crude oil prices. In response to the concerns, a senior NNPC official said the company remained committed to restoring the refineries to sustainable and commercially viable operations.
The NNPC official, who spoke on condition of anonymity, said the company was currently evaluating technical and financial partnership options covering the completion, operation, and long-term optimisation of the facilities. As part of the process, NNPC signed a memorandum of understanding with Sanjiang Chemical Company Limited on April 30, 2026, covering potential technical, operational, and investment opportunities involving the refineries and associated petrochemical development.
Preliminary technical assessments of the Warri Refinery and Petrochemical Plant and the Port Harcourt Refinery have since been undertaken. NNPC had previously said the April agreement with Sanjiang and Xinganchen (Fuzhou) Industrial Park Operation and Management Company Limited was intended to explore a potential technical equity partnership for the completion and operation of the two refineries.
The proposed framework also covered refinery expansion, petrochemical development, and gas-based industrial opportunities. However, the latest disclosure suggests that the agreement remains at the evaluation stage and has not translated into a final partnership arrangement. Discussions and evaluations remain ongoing, and any definitive arrangements will be subject to satisfactory due diligence, commercial viability, and all applicable approvals.
The emphasis on commercial viability comes as NNPC faces the challenge of ensuring that any future arrangement can support sustained operations rather than simply finance the completion of the facilities. NNPC will provide additional details when the negotiations reach a significant milestone. The development keeps the operational future of the Warri and Port Harcourt refineries tied to the outcome of the ongoing technical and commercial assessments.
Key points
- NNPC is still evaluating technical and financial partners for the completion and long-term operation of the Warri and Port Harcourt refineries.
- The company has begun preliminary technical assessments of both facilities following an April 2026 memorandum of understanding with Sanjiang Chemical Company.
- Petrol prices have reached between ₦1,400 and ₦1,500 per litre in some locations, while diesel has risen above ₦2,000 per litre.
