Oando PLC has stated that its subsidiary, Oando Trading, was selected as the preferred bidder to lease the refinery assets of Guaracara Refining Company Limited (GRC), according to the Honorable Minister for Energy of Trinidad and Tobago.
Located in Pointe-à-Pierre, Trinidad and Tobago, the century-old refinery is central to the country’s oil industry and is being leased from Trinidad Petroleum Holdings Ltd (TPHL).
In a recent release signed by the Chief Compliance Officer and Company Secretary, Oando announced its successful selection to the Nigerian Exchange Limited (NGX) and the Johannesburg Stock Exchange (JSE).
According to the release, this award reflects Oando’s ongoing reliability and innovation as it seeks to expand in the Caribbean.
‘’It marks a partnership between Africa and the Caribbean, with Oando’s role in the refinery aimed at enhancing collaboration in the energy sector and facilitating trade, investment, and knowledge exchange,’ the disclosure states.
This announcement follows Oando Energy Resources’ recent award of operatorship for Block KON 13 in Angola’s Onshore Kwanza Basin, disclosed on January 23, 2025.
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Wale Tinubu CON, Group Chief Executive of Oando PLC, expressed appreciation for the trust shown by the Trinidadian government in a recent announcement.
He stated, “We are honored by the confidence the Trinidadian government has placed in us with this award.”
Tinubu highlighted that this strategic investment aligns with Oando’s vision for growth in high-potential regions, reflecting the value of leveraging technical expertise and global partnerships.
He added, “We recognize the significance of this opportunity and look forward to collaborating with all stakeholders to deliver maximum value for everyone involved.”
Angola operatorship
In late January 2025, Oando announced to the Nigerian Exchange (NGX) that its subsidiary, Oando Energy Resources (OER), has been awarded the operatorship of Block KON 13 in Angola’s Onshore Kwanza Basin.
This operatorship was granted to OER after a competitive bidding process organized by the Angolan National Agency for Petroleum, Gas, and Biofuels (ANPG).
- Block KON 13 is located in the Kwanza Onshore Basin, which is known for its promising pre-salt and post-salt formations, with estimated resources ranging from 770 to 1,100 million barrels of oil.
- It also features two previously drilled exploration wells that reached a target depth of 3,000 meters, where oil and gas have been observed at various depths.
Commenting on the success, Wale Tinubu stated: ‘’I am thrilled by our successful bid and award of Block KON 13 in Angola. This development underscores Oando’s relentless commitment to expanding our footprint across Africa and contributing to the continent’s energy sufficiency goals.’’
