Post-Cabinet Media Briefing – Thursday 27th February, 2025

Today Cabinet agreed to inform Trinidad Petroleum Holdings Limited (TPHL) of its non-objection to the pursuit of discussions with energy company Oando to negotiate the lease of the Guaracara refinery.

Acting Prime Minister and Minister of Energy and Energy Industries the Hon. Stuart Young SC made the announcement while speaking at the Post-Cabinet Media Briefing held at Whitehall today (Thursday 27th February, 2025).

An Evaluation Committee had been established to evaluate the request for proposals for the use of the Guaracara refinery. Prime Minister (Ag) Young said the expressions of interest were reviewed by the committee comprising of industry professionals, and three companies were shortlisted.

The Evaluation Committee recommended that Oando Trading DMCC be the preferred bidder for the lease of the Guaracara refinery.

Prime Minister (Ag) Young emphasised the Government’s commitment to protecting Paria Fuel Trading Company Limited’s assets, ensuring a stable supply of domestic fuel for the population, and safeguarding Paria’s resources during the refinery restart process.