Oando PLC has confirmed that its subsidiary, Oando Trading, has been selected as the preferred bidder to lease the refinery assets of Guaracara Refining Company Limited (GRC) in Trinidad and Tobago. The announcement was made by the country’s Honorable Minister for Energy, signaling a major expansion for the Nigerian energy giant in the Caribbean.
Thank you for reading this post, don't forget to subscribe!Naija247news gathered that the Guaracara Refinery, located in Pointe-à-Pierre, has been a cornerstone of Trinidad and Tobago’s oil industry for over a century. The leasing process is being managed by Trinidad Petroleum Holdings Ltd (TPHL), the state-owned energy company responsible for the country’s hydrocarbon resources.
Naija247news understands that the selection of Oando Trading underscores the company’s growing influence in the global energy sector. In a recent statement signed by its Chief Compliance Officer and Company Secretary, Oando PLC formally disclosed the development to the Nigerian Exchange Limited (NGX) and the Johannesburg Stock Exchange (JSE).
According to Naija247news, Oando views this award as a testament to its operational reliability and innovation, positioning the company as a key player in the Caribbean’s energy landscape. The company stated that the lease agreement will serve as a bridge between Africa and the Caribbean, fostering deeper collaboration in energy, trade, and investment.
Naija247news reports that this move comes on the heels of Oando Energy Resources’ recent success in Angola, where it was awarded operatorship of Block KON 13 in the Onshore Kwanza Basin. That milestone, disclosed on January 23, 2025, further solidified Oando’s expansion strategy beyond Nigeria and West Africa.
As Oando finalizes the lease agreement and prepares to assume operational control of the Guaracara Refinery, industry analysts are keen to see how this strategic expansion will impact regional energy markets. Naija247news will continue to monitor developments and provide updates on the implications of this deal for both Oando and the broader African energy sector.
