Trinidad and Tobago is in talks with U.S.-based Quanten LLC for the sale of the country's refinery, Energy Minister Stuart Young said on Sunday, 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.
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