The Nigerian National Petroleum Company Limited has said its agreement with Chinese firms for the rehabilitation and operation of the Port Harcourt and Warri refineries has entered a rigorous evaluation phase.
The company said the process follows the recent signing of a Memorandum of Understanding with the firms as part of efforts to restore the refineries and ensure they operate as profitable and self-sustaining businesses.
According to NNPC Limited, the evaluation will carefully examine the technical capacity, financial strength and operational plans of the companies involved before further steps are taken.
The company explained that the partnership is not only about repairing the facilities but also ensuring that the refineries can operate efficiently, generate revenue and remain commercially viable in the long term.
The Port Harcourt and Warri refineries have faced years of operational challenges despite previous rehabilitation efforts, making their future a major issue in Nigeria’s oil and gas sector.
NNPC Limited maintained that the current arrangement is designed to create a sustainable operating model that will reduce dependence on repeated government-funded rehabilitation programmes.
The company said the evaluation process would be thorough, with the goal of selecting arrangements capable of delivering lasting results and improving Nigeria’s domestic refining capacity.
The development comes as Nigeria continues efforts to reduce its dependence on imported petroleum products and strengthen local refining.
NNPC Limited said its ultimate objective is to ensure that the Port Harcourt and Warri refineries become efficient, profitable and self-sustaining assets capable of contributing meaningfully to the country’s energy security and economy.
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