Oando PLC, a prominent Nigerian energy company listed on both the Nigerian Exchange Limited (NGX) and the Johannesburg Stock Exchange (JSE), has been selected as the preferred bidder to lease the refinery assets of Guaracara Refining Company Limited (GRC) in Trinidad and Tobago.
The Guaracara Refinery, located in Pointe-à-Pierre, is a significant energy asset in the Caribbean. Established over a century ago, it has historically 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.
Oando’s involvement in the refinery is expected to serve as a catalyst for deeper Afro-Caribbean 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.
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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.
This strategic investment aligns with Oando’s long-term vision of expanding into high-potential regions and growing its operational footprint. Leveraging its vast technical expertise and global partnerships, Oando aims to deliver maximum value for all parties involved in this venture.
