admin The refinery assets of Guarara Refining Company Limited have been leased to Oando Trading, according to the minister for energy of Trinidad and Tobago.
Located in Pointe-à-Pierre, Trinidad and Tobago, the over a century old refinery is central to the country’s oil industry and is being leased from Trinidad Petroleum Holdings Ltd.
In a statement signed by Oando chief compliance officer and company secretary Ayotola Jagun, said the preferred bidder award underscores the company’s track record of reliability, innovation, and infrastructure development, which aligns with its corporate strategic vision of expanding across the Caribbean region. In his words, “This partnership also represents a strategic bridge between Africa and the Caribbean, as Oando’s involvement in the refinery will serve as a catalyst for deeper Afro-Caribbean collaboration in the energy sector, paving the way for increased trade, investment, and knowledge exchange.”
In his own comment, the Group Chief Executive officer of OANDO PLC, Wale Tinubu said, “We are honoured by the confidence the Trinidadian government has placed in us with the award. This strategic investment aligns with our long-term vision of expanding into high-potential regions and growing our operational footprints, leveraging our vast technical expertise and global partnerships to finance projects. We recognise the significance of this opportunity and look forward to working with all stakeholders to deliver maximum value for all parties involved.”
Established over a century ago, the refinery is a vital energy asset in the Caribbean and has been a major plank of Trinidad and Tobago’s oil industry.
With a capacity of 175,000 barrels per day, the refinery is well positioned for processing regional crude oils and supplying both domestic and regional markets with refined products.
Report by Tunde Olaore
