Oando Plc has announced that its trading subsidiary, Oando Trading, has been formally selected as the preferred bidder for the lease of Guaracara Refining Company Limited (GRC)’s refinery assets in Trinidad and Tobago. The selection, confirmed in an official notice from Trinidad Petroleum Holdings Ltd (TPHL), follows an announcement by the Minister for Energy on February 27, 2025.
This award underscores Oando’s track record of reliability, innovation, and infrastructure development and aligns with its corporate strategic vision of expanding across the Caribbean region.
This partnership also represents a strategic bridge between Africa and the Caribbean. Oando’s involvement in the Refinery will catalyse deeper AfroCaribbean collaboration in the energy sector, paving the way for increased trade, investment, and knowledge exchange. This initiative underscores Africa’s growing influence in the global energy landscape and highlights the role of indigenous African companies in fostering economic transformation across borders.
Commenting on the announcement, Wale Tinubu CON, Group Chief Executive of Oando Plc, said: “We are honoured by the confidence the Trinidadian government has placed in us with this award. This strategic investment aligns with our long-term vision of expanding into high-potential regions and growing our operational footprint, 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.”
The Refinery, located in Pointe-à-Pierre, Trinidad and Tobago, is a vital energy asset in the Caribbean. It was established over a century ago and historically has been the cornerstone of Trinidad and Tobago’s oil industry. With a capacity of 175,000 barrels per day and a Nelson Complexity Index of 8.0, the refinery is well-suited for processing regional crude oils and supplying both domestic and regional markets with refined products.
The next steps involve detailed discussions with the government and regulatory authorities to finalize the lease agreement and operational framework. As this process progresses, Oando PLC will continue to provide timely updates to stakeholders and the public.
