Oando Plc has emerged as the preferred bidder to lease the Guaracara refinery in Trinidad and Tobago.
Stuart Young, Trinidad and Tobago’s acting prime minister, announced on Thursday via Facebook.
Young said an evaluation committee was established to evaluate all expressions of interest before shortlisting three companies.
However, he pointed out that the evaluation committee ultimately recommended Oando Trading DMCC as the preferred bidder for the refinery lease.
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“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 said the Trinidadian government remains committed to protecting Paria Fuel Trading Company Limited’s assets while ensuring a stable domestic fuel supply for citizens.
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Furthermore, he assured the government would safeguard Paria’s resources throughout the restart process of the refinery.
On January 22, Oando said its upstream subsidiary, Oando Energy Resources (OER), has won a bid to operate an oil block in Angola.
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