Trinidad and Tobago in talks over sale of idled Petrotrin refinery to Quanten

Trinidad and Tobago is in talks with US-based Quanten LLC for the sale of the country’s refinery, energy minister Stuart Young stated, more than a year after the government rejected a proposal by a local group to buy the facility.

The Caribbean nation’s government three years ago shut down the state-run refinery Petrotrin, which at the time had a capacity to process about 140,000 barrels per day of crude, due to losses of over $1 billion in the prior five years.

“Quanten LLC is an American company that is engaged in the process for the refinery,” Young said in a statement.

“The company is engaged with TPHL and has to go through the standard and required processes in these types of matters,” he said, referring to state-owned Trinidad Petroleum Holdings Limited, which is handling the request for proposal process.

Trinidad and Tobago’s government in early 2021 said Patriotic Energies, a subsidiary of a trade union which represents oil workers, could not provide any credible offer of financing for the refinery.

For more information visit www.quanten.us