Oando shortlisted as one of the top 3 contenders for Trinidad’s national refinery

Oando Plc has been shortlisted by the Trinidadian government as one of three finalists to acquire the country’s state-owned refinery, previously operated by the now-defunct Petrotrin.

During a budget presentation on September 30, Trinidad’s Finance Minister, Colm Imbert, revealed that Oando was among the final three contenders selected from an initial pool of ten proposals, according to BusinessDay. The other finalists include the CRO Consortium, a group of three Trinidadian companies, and INCA Energy, an American firm.

The bidding process commenced in February 2024 when the government of Trinidad and Tobago engaged U.S.-based Scotia Capital to manage the procurement of the refinery by inviting “expressions of interest.”

Imbert stated, “A formal selective Request for Proposals process will now be initiated to determine the winner among these three companies, with the aim of restarting the refinery, if deemed feasible.”

He further explained that the proposals were evaluated based on five key criteria, including a clear restart plan and timeline from each proposing company. This plan must encompass an asset integrity assessment, utility requirements such as power, natural gas, and water, as well as sources of crude supply.