In a landmark achievement for African energy expansion, Oando Plc has been named the preferred bidder for the lease of the Guaracara Refining Company Limited (GRC) refinery assets in Trinidad & Tobago.

The announcement, made by the country’s Minister of Energy on February 27, 2025, solidifies Oando’s strategic push into the Caribbean energy sector.

The selection, formally communicated by Trinidad Petroleum Holdings Ltd (TPHL), underscores Oando’s reputation for operational excellence, innovation, and infrastructure development.

This milestone aligns with the company’s long-term vision of broadening its international footprint while fostering deeper Afro-Caribbean collaboration in the energy sector.

Oando’s involvement in the refinery—one of the Caribbean’s most vital energy assets—marks a significant step in strengthening trade, investment, and knowledge exchange between Africa and the region. Wale Tinubu, Group Chief Executive of Oando Plc, expressed optimism about the venture, stating:

“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 highpotential regions and growing our operational footprint, leveraging our vast technical expertise and global partnerships to finance projects.

“We recognize the significance of this opportunity and look forward to working with all stakeholders to deliver maximum value for all parties involved.”

Situated in Pointe-àPierre, Trinidad and Tobago, the refinery boasts a refining capacity of 175,000 barrels per day and a Nelson Complexity Index of 8.0—positioning it as a key hub for processing regional crude oil and meeting domestic and regional refined product demand. Established over a century ago, it remains a cornerstone of Trinidad and Tobago’s oil industry.