The Nigerian National Petroleum Company Limited is still evaluating technical and financial partnership options for the completion and long-term operation of the Port Harcourt and Warri refineries, the company has said.
The development comes as petroleum marketers renewed calls for the Federal Government to urgently restart the government-owned refineries amid rising petrol and diesel prices.
The National Public Relations Officer of the Petroleum Products Retail Outlets Owners Association of Nigeria, Joseph Obele, had urged the Federal Government and NNPC to commence production at the Port Harcourt and Warri refineries, arguing that increased domestic refining would reduce dependence on imported petroleum products.
Obele said petrol was selling between N1,400 and N1,500 per litre in some locations, while diesel had risen above N2,000 per litre. He also said domestic refining was needed to cushion the impact of rising international crude oil prices on Nigerians.
Responding to the renewed concerns over the operational status of the refineries, a member of NNPC Ltd’s senior leadership, who spoke on condition of anonymity on Sunday due to the lack of authorisation to speak on the matter, said the national oil company was working to ensure that any partnership entered into 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.
“To this end, NNPC Ltd is evaluating technical and financial partnership options for the completion, operation and long-term optimisation of the facilities.”
The official disclosed that NNPC had already signed a Memorandum of Understanding with Sanjiang Chemical Company Limited on April 30, 2026, as part of the search for technical and investment partners.
“As part of this process, NNPC Ltd signed a Memorandum of Understanding with Sanjiang Chemical Company Limited on April 30, 2026. The engagement covers potential technical, operational and investment opportunities relating to the refineries and associated petrochemical development,” the official said.
The official added that preliminary technical work had commenced on two of the country’s major government-owned refining facilities. “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 announced that its April agreement with Sanjiang and Xinganchen (Fuzhou) Industrial Park Operation and Management Company Limited was aimed at exploring a potential technical equity partnership for the completion and operation of the Port Harcourt and Warri refineries. The proposed framework also included refinery expansion, petrochemical development and gas-based industrial opportunities.
However, the latest position indicates that the discussions have not yet produced a definitive commercial arrangement.
“Discussions and evaluations remain ongoing, and any definitive arrangements will be subject to satisfactory due diligence, commercial viability and all applicable approvals,” the NNPC senior official said.
The official added that the company would disclose further details when the negotiations reach a significant stage.
“NNPC Ltd will provide further information as soon as a major milestone in this regard is achieved.”