Trinidad and Tobago is seeking Indian Oil Corp's assistance to restart the 165,000-barrel-per-day Guaracara refinery, which has been offline for years. This represents a renewed effort to revitalize Trinidad's refining capacity and potentially boost its economy.
Key Facts
- The Guaracara refinery has a capacity of 165,000 barrels per day.
- The refinery is located in southern Trinidad, near Point-a-Pierre.
- The refinery has been idled for several years.
Impact Analysis
The restart of the Guaracara refinery, if successful, could increase demand for crude oil in the region and potentially impact regional refined product prices. It could also create opportunities for engineering and construction firms involved in refinery maintenance and upgrades. The involvement of Indian Oil Corp signals a potential shift in investment and operational expertise in the Caribbean refining sector.
Why It Matters for Cyprus
This matters to industry professionals because it signals potential shifts in regional refining capacity and international investment in the Caribbean oil and gas sector.
AI-powered analysis by OilCyprus. Methodology