Oando Plc has secured an important foothold in the Caribbean energy market after its subsidiary, Oando Trading, was named the preferred bidder to lease the refinery assets of Guaracara Refining Company Limited in Trinidad and Tobago.
The announcement was made by the country’s Minister of Energy on Tuesday in a landmark expansion for the Nigerian energy giant.
Located in Pointe-à-Pierre, Trinidad and Tobago, the refinery has been a central part of the country’s oil industry for over a century and is currently being leased from Trinidad Petroleum Holdings Ltd.
With a processing capacity of 175,000 barrels per day (bpd) and a Nelson Complexity Index of 8.0, the facility is well-positioned to refine regional crude oils and supply both domestic and regional markets with petroleum products.
In a statement signed by Ayotola Jagun, Chief Compliance Officer & Company Secretary, Oando Plc explained that winning the bid reflects the company’s proven track record in energy infrastructure development, operational reliability and strategic innovation.
The move aligns with Oando’s corporate vision to expand across the Caribbean and deepen Africa’s engagement in the global energy landscape.
“This partnership represents a strategic bridge between Africa and the Caribbean as Oando’s involvement in the refinery will catalyze deeper Afro-Caribbean collaboration in the energy sector. It paves the way for increased trade, investment, and knowledge exchange between both regions,” the company stated.
Commenting on the achievement, Wale Tinubu, Group Chief Executive of Oando Plc, expressed gratitude for the confidence placed in the company by the Trinidadian government and reaffirmed Oando’s commitment to leveraging its vast technical expertise and global partnerships to ensure the project’s success.
“We are honored by the trust vested in us with this award. This strategic investment aligns with our long-term vision of expanding into high-potential energy markets. We recognize the significance of this opportunity and look forward to working with all stakeholders to deliver maximum value,” Tinubu stated.
With the bid secured, Oando will now enter detailed discussions with the Trinidadian government and regulatory authorities to finalize the lease agreement and operational framework. The company has assured stakeholders that it will provide timely updates as the process progresses.
The acquisition of Guaracara Refinery’s assets marks a pivotal step in Oando’s international growth strategy, positioning the company as a key player in Caribbean energy infrastructure while reinforcing Africa’s expanding influence in global oil and gas markets.
