THE Guaracara refinery could resume operations within a year if all goes as planned, according to Jai Leladharsingh, coordinator of the Confederation of Regional Business Chambers, who confirmed that funding discussions are currently under way.

Leladharsingh?s comments follow a meeting held on Wednesday between several trade unions and the business chambers to chart a collaborative path toward restarting the refinery under the new United National Congress (UNC) Government.

Leladharsingh confirmed in an interview with the Sunday Express that the unions, including the Oilfields Workers? Trade Union (OWTU), Joint Trade Union Movement (JTUM), National Union of Government and Federated Workers (NUGFW) and the Public Services Association (PSA), are actively engaging with the Confederation to support the refinery?s reopening.

Reignite opportunities

?We didn?t get into specifics at this time, but what they wanted is assistance from the Confederation regarding business modelling, strategic planning, technical and non-technical training, and project management...which we have agreed to work (on) with the unions for the start-up of the refinery,? Leladharsingh said.

He emphasised that the reopening will not only provide direct employment but also reignite opportunities for contractors, suppliers, and service providers who previously worked with the refinery. The initiative, he added, could help alleviate the country?s ongoing foreign exchange challenges by expanding energy exports and reviving domestic production.

The plan to restart the refinery will be executed in phases due to the inherent risks of a full-scale reopening, he indicated.

According to Leladharsingh, the unions have asked the Confederation to serve as their private sector arm, lending business expertise ?so that we can start to realise revenue and profits at that early time. We do not want to be operating at any loss.?

Leladharsingh underscored the importance of the refinery remaining owned by Trinidad and Tobago people. While foreign investment is welcome, he stressed that national ownership and the country?s best interests must come first.

?And I want to make that point absolutely clear, because the Confederation, like the trade unions, we are very patriotic, and we want to see our level of ownership take place. We are not going to give away our resources,? he said.

Asked about the current state of the refinery, Leladharsingh said: ?We are going to do a drive-through with the unions to understand the state of the refinery.? He said it is his understanding ?that there are contractors in there already since the closure of the refinery, consistently checking the integrity of the equipment. So, the equipment is functionable. But if it is that new people are going in to see how they can operate it, a clearer picture will be presented some time in the future?.

In terms of the timeline for possible reopening, Leladharsingh said: ?All things being equal, I see the refinery opening up within a year. Once the starting process has begun, it can open up within a year of that time.?

Addressing the financial aspect for the start-up of the refinery, he did not name any investors, but confirmed that funding discussions are under way with international financial markets.

He emphasised the importance of acquiring pre-approved funding in light of sanctions by the US government. He also said the finances could come from local resources.

?We want to make sure where we raise the money, there is no objection, especially with the US government, where they are putting a lot of sanctions globally on different companies,? he said, adding ?So we want to make sure the money is fine, it?s pre-approved, by all necessary players involved, and we will bring that into the start-up of the refinery.?

On the way forward, he said, the Confederation and unions are expected to meet again early next month to finalise collaboration strategies and assess the current state of the refinery. He also confirmed that discussions with the Government are being led by key union leaders, including OWTU president-general Ancel Roget. The Confederation will join the Government talks at a later stage.

Economic prosperity

He said the Confederation is committed to signing a memorandum of understanding to formalise its collaboration. ?We are hoping that this start-up will result in prosperity?economic prosperity for the country as a whole. And that is what we would like to see; the country can get back on its feet again and become once again the energy hub of the Caribbean,? Leladharsingh said.

Speaking at a news conference at the OWTU headquarters in San Fernando on Wednesday night, Roget said talks were still in the preliminary phase.

However, he noted that the group intends to submit a comprehensive proposal to the Government?s ministerial team before taking it to the wider public.

Also present at the meeting were general secretary of the National Trade Union Centre (NATUC) Michael Annisette, and president-general of the National Union of Government and Federated Workers Christopher Street.

Speaking at the post-Cabinet news conference on Thursday, Prime Minister Kamla Persad-Bissessar said her administration is committed to getting the mothballed refinery back up and running.

?We remain committed to trying to get that refinery restarted, if not in its present form, in some kind of form. We need a refinery in Trinidad and Tobago. It has been the core golden goose for Trinidad and Tobago for over 100 years. So, yes, we are working on it,? Persad-Bissessar said.

The Guaracara refinery was shut down in 2018 by the Dr Keith Rowley-led administration following the restructuring of Petrotrin and its replacement by Trinidad Petroleum Holdings Ltd.

On Thursday, February 27, 2025, Oando Trading was formally advised in writing of its selection as the preferred bidder for the lease of the Guaracara Refining Company Ltd (GRC)?s refinery assets from Trinidad Petroleum Holdings Ltd (TPHL).

Patriotic Energies and Technologies Co Ltd, which is wholly owned by OWTU, had previously tried to purchase the refinery.

Former energy minister Stuart Young said in 2018/2019, Patriotic was the preferred bidder and enjoyed a period of exclusivity, but they could not get over the hurdles.

However, during his budget presentation last year, Young said Patriotic Energies had submitted a fake and fraudulent document which stated it had US$1.5 billion to purchase the Petrotrin refinery.

Energy Minister Dr Roodal Moonilal has said this country?s negotiations with Oando for the lease of the Pointe-a-Pierre refinery have been put on hold. (Daily Express)

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