NNPC begins technical assessments of Port Harcourt and Warri refineries while seeking commercially sustainable partnersPetroleum marketers urge faster refinery restarts as petrol reaches N1,500 per litre and diesel exceeds N2,000NNPC’s Sanjiang partnership remains under evaluation, with final agreements subject to due diligence, viability and approvalsPAY ATTENTION: Mark Legit.ng as a preferred source, and our content will appear higher in your Google feed!Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.The Nigerian National Petroleum Company Limited has begun preliminary technical assessments of the Port Harcourt and Warri refineries while evaluating potential technical and financial partners to complete, operate and optimise the facilities.NNPC said it was evaluating technical and financial partnership options for the completion, operation and long-term optimisation of the two government-owned refineries.NNPC begins technical assessment of two Nigerian refineries amid high petrol prices. Credit: PIUS UTOMI EKPEI / Stringer Source: Getty ImagesThe development comes amid renewed pressure from petroleum marketers for the Federal Government to accelerate efforts to restore domestic refining capacity as Nigerians grapple with higher petrol and diesel prices.PAY ATTENTION: From breaking news to viral moments. Follow Legit.ng on Instagram!Marketers push for refinery restartJoseph Obele, National Public Relations Officer of the Petroleum Products Retail Outlets Owners Association of Nigeria, urged the Federal Government and NNPC to restart production at the Port Harcourt and Warri facilities, Punch reported.According to Obele, petrol is selling for between N1,400 and N1,500 per litre in some locations, while diesel has climbed above N2,000 per litre.He argued that increased domestic refining could reduce Nigeria’s dependence on imported petroleum products and help cushion consumers from the impact of rising international crude oil prices.Responding to concerns about the refineries, a member of NNPC’s senior leadership said the company was working to ensure that any partnership reached for the facilities would be commercially sustainable.“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.“To this end, NNPC Ltd is evaluating technical and financial partnership options for the completion, operation and long-term optimisation of the facilities.”NNPC begins technical assessmentThe official disclosed that NNPC signed a Memorandum of Understanding with Sanjiang Chemical Company Limited on April 30, 2026, as part of efforts to secure technical expertise and investment.The engagement covers possible technical, operational and investment opportunities involving the refineries and associated petrochemical projects.“The parties have since undertaken preliminary technical assessment of Warri Refinery and Petrochemical Plant and the Port Harcourt Refinery,” the official said.NNPC had earlier disclosed that its agreement with Sanjiang and Xinganchen (Fuzhou) Industrial Park Operation and Management Company Limited was designed to explore a potential technical equity partnership.The proposed arrangement covers the completion and operation of the two refineries as well as possible refinery expansion, petrochemical development and gas-based industrial projects.Final partnership deal still pendingHowever, NNPC’s latest position indicates that negotiations have yet to produce a definitive commercial agreement.“Discussions and evaluations remain ongoing, and any definitive arrangements will be subject to satisfactory due diligence, commercial viability and all applicable approvals,” the senior official said.NNPC may commence the repair of two Nigerian refineries amid high petrol prices.
Credit: State House Source: Getty ImagesThe company said further information would be released once negotiations reach a significant milestone.A successful restart of the Port Harcourt and Warri facilities would add government-owned refining capacity to Nigeria’s domestic market at a time when consumers and marketers are increasingly concerned about the impact of elevated crude oil and petroleum product prices.NNPC signs deal with Chinese firms for 2 refineriesLegit.ng earlier reported that the Nigerian National Petroleum Company Limited (NNPC Ltd) has signed a fresh agreement with two Chinese industrial firms to revive the long-troubled Port Harcourt and Warri refineries, in what appears to be one of the strongest moves yet to restore the country’s state-owned refining assets. The deal comes after the two refineries reportedly consumed more than $2.4 billion in public funds over the years without delivering significant refined fuel output. Source: Legit.ng Pascal Oparada (Business editor) For over a decade, Pascal Oparada has reported on tech, energy, stocks, investment, and the economy. He has worked in many media organizations such as Daily Independent, TheNiche newspaper, and the Nigerian Xpress.
He is a 2018 PwC Media Excellence Award winner. Email:pascal.oparada@corp.legit.ng Nigerian National Petroleum Corporation (NNPC)Federal Government Of Nigeria Pokemon characters Uk student visa Uganda Football trophies Lisa boothe
