₦airaland Forum

As Nigeria battles to fix its four ailing refineries in the country, an indigenous oil firm, Oando Plc, has been shortlisted among three others firms planning to buy the state-owned Petrotrin refinery at Pointe-a-Pierre in Trinidad and Tobago.

According to a report by Daily Express, the South American country’s Finance Minister, Colm Imbert, disclosed that three companies had been shortlisted from an initial pool of 10 bidders, in government’s third attempt to sell or lease the former State-owned Petrotrin refinery at Pointe-a-Pierre.

The deal is coming a few months after Dangote’s $20 billion 650,000 barrels per day refinery came on stream amid Federal Government’s efforts to revive the country’s ailing plants located in Warri, Delta State, Kaduna in Kaduna State and Port Harcourt, Rivers State.
Successive administrations over the last 20 years have subjected the country’s enormous crude oil resources into a huge joke by exporting the product to refineries offshore and then brought back into the country in a manner highly stewed in corruption through vague subsidy payment arrangements.

While delivering the country’s budget statement on Tuesday, Imbert said Cabinet had since agreed to move to a selective process, where one of the three companies would be selected to resume operations of the company.
He identified the companies to include – CRO Consortium, a locally based consortium comprising three companies, DR Commodities Limited, ChemieTech and Ocala; INCA Energy LLC, a company based in the USA; and Oando PLC, a company based in Nigeria.

This revelation is coming a few months after the management of Oando extricated the oil firm from allegations of owning interests in Maltese oil storage and blending facility, Ras Hanzir Oil Terminal Limited.

The management had faulted the allegations on social and digital media, levelled against the firm of being a shareholder, and its principals of being board members, in the Maltese company, that operates an oil storage and blending facility, and is purportedly responsible for importing adulterated petroleum products into Nigeria. “Considering the above, we wish to refute such claims and attest that neither Oando PLC nor its Executives have ever held shares, investments, or interests in the said Maltese company.

Patxyz:
Oh Tinubu has finished Nigeria kpatakpata. From Agip to buy refinery at Trinidad and Tobago. Before he leaves 2027 he will definitely buy a whole country for himself.

CyrusVI:


You're never happy to see Nigerian firms progress at any pace under this regime

How would you have reacted if the report is how the Trinidad Govt is here to acquire one of our firms, oil or not? You would prolly have wailed the same way


How does this news affect you negatively?

If you one of the workers in this firm, wouldnt u be happy that your company's progress has been very exponential in the last few months?

Ejike, Teeth gnashing is energy draining