Oando PLC has said that its subsidiary, Oando Buying and selling, was chosen as the popular bidder to lease the refinery belongings of Guaracara Refining Firm Restricted (GRC), in response to the Honorable Minister for Vitality of Trinidad and Tobago.
Situated in Pointe-à-Pierre, Trinidad and Tobago, the century-old refinery is central to the nation’s oil trade and is being leased from Trinidad Petroleum Holdings Ltd (TPHL).
In a latest launch signed by the Chief Compliance Officer and Firm Secretary, Oando introduced its profitable choice to the Nigerian Alternate Restricted (NGX) and the Johannesburg Inventory Alternate (JSE).
Based on the discharge, this award displays Oando’s ongoing reliability and innovation because it seeks to broaden within the Caribbean.
‘’It marks a partnership between Africa and the Caribbean, with Oando’s position within the refinery aimed toward enhancing collaboration within the vitality sector and facilitating commerce, funding, and information change,’ the disclosure states.
This announcement follows Oando Vitality Sources’ latest 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 Government of Oando PLC, expressed appreciation for the belief proven by the Trinidadian authorities in a latest announcement.
He said, “We’re honored by the boldness the Trinidadian authorities has positioned in us with this award.”
Tinubu highlighted that this strategic funding aligns with Oando’s imaginative and prescient for development in high-potential areas, reflecting the worth of leveraging technical experience and world partnerships.
He added, “We acknowledge the importance of this chance and stay up for collaborating with all stakeholders to ship most worth for everybody concerned.”
Angola operatorship
In late January 2025, Oando introduced to the Nigerian Alternate (NGX) that its subsidiary, Oando Vitality Sources (OER), has been awarded the operatorship of Block KON 13 in Angola’s Onshore Kwanza Basin.
This operatorship was granted to OER after a aggressive bidding course of organized by the Angolan Nationwide Company for Petroleum, Fuel, and Biofuels (ANPG).
- Block KON 13 is positioned within the Kwanza Onshore Basin, which is understood for its promising pre-salt and post-salt formations, with estimated sources starting from 770 to 1,100 million barrels of oil.
- It additionally options two beforehand drilled exploration wells that reached a goal depth of three,000 meters, the place oil and gasoline have been noticed at varied depths.
Commenting on the success, Wale Tinubu said: ‘’I’m thrilled by our profitable bid and award of Block KON 13 in Angola. This growth underscores Oando’s relentless dedication to increasing our footprint throughout Africa and contributing to the continent’s vitality sufficiency targets.’’
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