Nigeria's NNPC Boosts Output and Seeks Chinese Partners to Revive Refineries

In its March 2026 report, the Nigerian National Petroleum Company (NNPC) recorded a 3.31% rise in crude and condensate output to 1.56 million barrels per day and a 3.66% increase in gas production to 7,731 million standard cubic feet per day. Revenue grew 3.51% to ₦2.774 trillion and profit after tax more than doubled, jumping 102.94% to ₦276 billion. Cumulative statutory payments for the first quarter reached ₦2.888 trillion.

On April 30, 2026, NNPC signed a Memorandum of Understanding with China’s Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd. in Jiaxing City. The deal outlines a potential Technical Equity Partnership to fast‑track the rehabilitation, restart and expansion of the Port Harcourt and Warri refineries, incorporate cleaner‑fuel production, and develop co‑located gas‑based petrochemical hubs, aiming to slash Nigeria’s reliance on imported petroleum products.

At the 2026 Offshore Technology Conference in Houston, NUPRC chief Oritsemeyiwa Eyesan highlighted a surge in local participation, noting nearly 100 Nigerian firms active in the sector and a strong licensing round where roughly 300 candidates vie for 50 oil blocks. She cited the Petroleum Industry Act, fuel‑subsidy removal and climate targets – zero gas flaring by 2030 and net‑zero emissions by 2060 – as drivers shaping Nigeria’s oil‑gas transformation and boosting investor confidence.