Oando Plc Wins Bid to Lease Guaracara Refinery in Trinidad and Tobago
Oando Plc has been selected as the preferred bidder to lease the Guaracara refinery in Trinidad and Tobago, marking a significant expansion of the Nigerian energy company’s footprint in the Caribbean.
The announcement was made on Thursday by the country’s acting Prime Minister, Stuart Young, who shared the development via Facebook. According to Young, an evaluation committee was tasked with assessing multiple expressions of interest before narrowing the selection to three contenders. Ultimately, the committee recommended Oando Trading DMCC as the leading choice for the refinery lease.
“Today, Cabinet agreed to inform Trinidad Petroleum Holdings Limited (TPHL) of its non-objection to the pursuit of discussions with energy company Oando to negotiate the lease of the Guaracara refinery,” Young stated during a post-Cabinet media briefing at Whitehall.
The acting prime minister reaffirmed the government’s commitment to safeguarding the assets of Paria Fuel Trading Company Limited while ensuring a stable domestic fuel supply. He also emphasized that measures would be put in place to protect Paria’s resources throughout the refinery’s restart process.
Oando’s expansion efforts have been gaining momentum in recent months. In January, the company’s upstream subsidiary, Oando Energy Resources (OER), secured a bid to operate an oil block in Angola, reinforcing its position as a key player in Africa’s energy sector.
