Oando Plc announced that after the Trinidad and Tobago Energy Minister’s statement on February 27, 2025, its subsidiary, Oando Trading, received formal confirmation as the preferred bidder to lease the Guaracara Refinery from Trinidad Petroleum Holdings Ltd. (TPHL).
The Pointe-à-Pierre refinery in Trinidad and Tobago is a key energy hub in the Caribbean.
Established over a century ago, it has been central to Trinidad and Tobago’s oil sector.
With a capacity of 175,000 barrels per day and a Nelson Complexity Index of 8.0, the refinery processes regional crude and supplies local and regional markets.
Winning this bid strengthens Oando’s presence in the Caribbean and reinforces its reputation for reliability, innovation, and infrastructure development.
Oando’s involvement in the refinery will boost Afro-Caribbean energy partnerships, driving trade, investment, and knowledge exchange.
This project highlights Africa’s growing role in global energy and the impact of African companies on economic transformation.
Oando’s Group CEO, Wale Tinubu, said the company is honored by the Trinidadian government’s confidence and sees this investment as part of its long-term expansion strategy.
He emphasized Oando’s commitment to working with stakeholders to ensure maximum value.
Oando will now engage with the government and regulators to finalize the lease agreement and operational framework.
Source:businessday.ng
