The Nigerian National Petroleum Company (NNPC) has dismissed calls to sell the Warri Refinery and Petrochemicals Company as scrap, insisting the facility remains a viable national asset.

A team of 35 engineers from Chinese firms Sanjiang Chemicals and New Future Group has begun a comprehensive inspection of the refinery. The assessment is part of a proposed partnership to finance, retool, and operate the facility, with the goal of restoring sustainable operations and profitability within 24 months.

Key Highlights

• Chinese Technical Assessment: Engineers are conducting detailed inspections ahead of a final investment decision.
• New Business Model: Designed to return the refinery to profitability after years of losses.
• Petrochemical Focus: Stronger emphasis on petrochemical production.
• National Asset Protection: NNPC insists refineries remain strategic assets, not scrap.
• Partnership Benefits: Technical expertise, operational efficiency, and investment expected to make the refinery commercially viable.

NNPC Group CEO Bayo Ojulari stressed that misinformation has fueled calls for disposal, but the interest shown by Chinese partners proves the refinery’s viability. He assured that no approval has been given for the sale of refinery components as scrap.