Oando’s financial woes raise eyebrows over T&T refinery deal

Joshua Seemu­n­gal

Se­nior Mul­ti­me­dia

In­ves­tiga­tive Jour­nal­ist

joshua.seemu­n­[email protected]

Niger­ian en­er­gy com­pa­ny Oan­do PLC, the Gov­ern­ment’s pre­ferred bid­der for the lease of the Pointe-a-Pierre re­fin­ery, has been strug­gling fi­nan­cial­ly.

Ac­cord­ing to Oan­do’s unau­dit­ed state­ments and sep­a­rate fi­nan­cial state­ments end­ing De­cem­ber 31, 2024, the com­pa­ny is in ac­count­ing in­sol­ven­cy.

The fi­nan­cial state­ments, viewed by Guardian Me­dia’s In­ves­tiga­tive Desk, showed the com­pa­ny’s to­tal li­a­bil­i­ties were 7.8 tril­lion Niger­ian Nairas (TT$34.4 bil­lion), while its to­tal as­sets were 7.5 tril­lion Niger­ian…