NNPC Still Weighing Partners To Revive Warri, Port Harcourt Refineries

• NNPC Ltd says it is still assessing technical and financial partnership options 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.

• The development comes amid renewed calls from petroleum marketers for the government-owned refineries to resume production as petrol and diesel prices rise.

September 21, () – The Nigerian National Petroleum Company Limited is still evaluating potential technical and financial partners for the completion and long-term operation of the Warri and Port Harcourt refineries, indicating that no definitive commercial arrangement has yet been reached for the two facilities, according to a report by PUNCH.

The latest position 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.

Obele said petrol prices had reached between ₦1,400 and ₦1,500 per litre in some locations, while diesel had risen above ₦2,000 per litre. He argued that greater domestic refining would help cushion consumers from the impact of higher international crude oil prices.

Sanjiang Deal Still Under Evaluation

Responding to the concerns, a senior NNPC official, who spoke on condition of anonymity because he was not authorised to speak publicly on the matter, said the company remained committed to restoring the refineries to sustainable and commercially viable operations, PUNCH reported.

“NNPC Ltd recognises public interest in fuel prices and the operational status of its refineries. The company remains committed to restoring the refineries to sustainable and commercially viable operations”, the official said.

He 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.

The official said preliminary technical assessments of the Warri Refinery and Petrochemical Plant and the Port Harcourt Refinery had 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.

Commercial Viability Remains Key

However, the latest disclosure suggests that the agreement remains at the evaluation stage and has not translated into a final partnership arrangement, according to the PUNCH report.

“Discussions and evaluations remain ongoing, and any definitive arrangements will be subject to satisfactory due diligence, commercial viability and all applicable approvals”, the official said.

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.

The official said NNPC would provide additional details when the negotiations reach a significant milestone.

“NNPC Ltd will provide further information as soon as a major milestone in this regard is achieved”, he added.

The development keeps the operational future of the Warri and Port Harcourt refineries tied to the outcome of the ongoing technical and commercial assessments, even as pressure mounts for more domestic refining capacity amid rising petroleum product prices.