After Squandering $25B In Refinery Overhauls, Nigeria Turns To Chinese Firms

After a series of failed and costly attempts to revamp its aging refineries, Nigeria’s national oil company, the Nigerian National Petroleum Company Limited (NNPC), has signed a new agreement with Chinese firms to revive its moribund facilities.

The NNPC has signed a Memorandum of Understanding (MoU) with Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co.