Oando Plc has been selected as the preferred bidder for the lease of the Guaracara refinery located in Trinidad and Tobago.
This announcement was made on Thursday by Stuart Young, the acting prime minister of Trinidad and Tobago, through a Facebook post.
Young mentioned that an evaluation committee was formed to assess all expressions of interest, which led to the shortlisting of three companies.
He further noted that the committee ultimately recommended Oando Trading DMCC as the top 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,” the statement reads.
“Acting Prime Minister and Minister of Energy and Energy Industries the Hon. Stuart Young SC made the announcement while speaking at the Post-Cabinet Media Briefing held at Whitehall today (Thursday 27th February, 2025).“
Young stated that the Trinidadian government is dedicated to safeguarding the assets of Paria Fuel Trading Company Limited while maintaining a reliable domestic fuel supply for its citizens.
Additionally, he confirmed that the government will protect Paria’s resources during the refinery's restart process.
On January 22, Oando announced that its upstream subsidiary, Oando Energy Resources (OER), has successfully secured a bid to operate an oil block in Angola.