Energy Minister expects 'comprehensive' report on Guaracara refinery

ENERGY Minister MP Dr Roodal Moonilal says he anticipates a "comprehensive" report in the upcoming days outlining the way forward for the Guaracara refinery.

He said he is expected to get a report by "at least within the first couple of days in December" from the committee tasked with assessing the feasibility of restarting the refinery.

"We anticipate that the report will be comprehensive, and it will give us an important map as to how we move forward, what they intend to submit, because there are terms of reference," Moonilal said.

"If they stick to the terms of reference, we expect to have a technical assessment, and we expect to have some type of financial and commercial discussion on the way forward for the refinery."

Moonilal, who also serves as Oropouche East MP, was speaking to reporters at his constituency office in Debe on November 26.

He highlighted the report's importance in setting the refinery's future direction, calling it an exciting step forward.

"We have now, in the next few days, some good news as the way forward for the refinery," he added.

"We are very happy with that, because that will tell us how we go forward in terms of proposals, options, partnerships, and so on that we intend to take."

Moonilal also discussed the potential timeline for restarting the refinery. "You can do some products within 12 to 18 months, and you can be fully operational in about 36 months," he said.

"We are looking at that. But of course, that is on the presumption of some type of capital expenditure and financial outlet. That we do not know yet, and the report should speak in some detail to that issue."

Moonilal shared that he had been invited to attend the Guyana Energy Conference in February 2025 by Guyana's Minister of Natural Resources, Vickram Bharrat.

Moonilal believes that the conference would offer a valuable opportunity to discuss potential collaborations between Trinidad and Tobago and Guyana in the oil and gas sector.

"At that meeting, we will also present an opportunity to speak in some detail on some of our collaborations and our plans with Guyana, which the former administration really did not avail themselves of, given the mega leap forward that the oil and gas industry has made in Guyana in the coming months and years," Moonilal added.

The refinery, owned by the state-run Petrotrin, was closed on November 30, 2018, under the Dr Keith Rowley-led administration.

The closure was attributed to economic challenges and declining profitability, with the refinery deemed unprofitable due to high operating costs.

After the closure, Petrotrin was restructured, with its operations divided into multiple companies: Heritage Petroleum Company, Paria Fuel Trading Company and Guaracara Refinery.