In a significant move for Caribbean energy cooperation, Guyana is actively assisting Trinidad and Tobago in securing crucial financing to restart the long-dormant Petrotrin oil refinery. The development emerged during the 5th Guyana Energy Conference held in Georgetown from February 17-20, 2026.
Guyana’s Energy Minister Roodal Moonilal revealed that President Irfaan Ali’s administration has been instrumental in connecting Trinidadian officials with potential Arab investors and local banking representatives. The collaborative effort aims to secure approximately US$200 million needed for the comprehensive revitalization of the refinery complex.
Minister Moonilal expressed optimism about the project timeline, suggesting that if financial arrangements are finalized by mid-year or the third quarter, preparatory work could commence as early as the last quarter of 2026. This would potentially allow operations to resume within approximately one year thereafter.
The financial requirements are structured in two phases: an initial US$50 million injection for short-term recommencement of operations, followed by a larger US$200 million investment to restore the refinery’s full capacity. This expanded capability would enable Trinidad to resume its historical role as a primary fuel supplier to the 15-nation Caribbean Community (CARICOM).
Minister Moonilal highlighted that the Saudi Arabian investment community has shown particular interest in the venture during discussions held in Guyana. The allocated funds would address critical technical upgrades, design modifications, and essential health and safety improvements at the facility.
While acknowledging Trinidad’s substantial domestic expertise in refinery operations, Moonilal indicated that international partnerships might be necessary. Potential collaborators could include specialized subcontractors from Houston, Texas, alongside technical experts from energy giants Shell and BP.
Addressing questions about crude compatibility, Moonilal clarified that technological advancements have largely eliminated the historical distinction between heavy and light crude processing. Modern conversion technologies and potential oil swap arrangements would allow the refinery to efficiently process various crude types, including Guyana’s light sweet crude.
The Petrotrin refinery was shuttered in November 2018 by the previous People’s National Movement administration following years of financial challenges and substantial debt accumulation.