Oando in Talks to Finalise Trinidad & Tobago’s Refinery Lease

Oando, a Nigerian energy group, is engaging key government and regulatory stakeholders in Trinidad & Tobago to finalise the lease structure and operational framework for the Caribbean nation’s 108-year-old Guaracara refinery, which has been sitting idle since 2018.

Its subsidiary Oando Trading Division was selected earlier this year as the preferred bidder for the lease of the Guaracara Refinery, with the company saying the development marked “a significant step” in its entry into the Caribbean downstream market.

“In July 2025, the newly appointed government reaffirmed Oando’s preferred bidder status and initiated a process to advance discussions on the refinery’s restart,” the company said on Friday in its earnings release. “Engagements with key government and regulatory stakeholders are ongoing to finalise the lease structure and operational framework.”

READ MORE: Inside Oando’s risky bet on 108-year-old loss-making Caribbean refinery