Latest refinery visit reignites questions over the Government’s restart promise. Is Pointe-à-Pierre heading towards a commercially viable future or another ceremonial ribbon-cutting?
November 12, 2026
Energy Minister Dr Roodal Moonilal’s latest visit to the Guaracara Refinery at Pointe-à-Pierre on November 11, 2026, has reignited a question that has followed the Government for more than 500 days: How soon is soon?
Accompanied by the Board of Trinidad Petroleum Holdings Limited (TPHL), Moonilal toured the facilities of Paria Fuel Trading and Guaracara Refining, assessing future operational capacity and expressing confidence in the refinery’s proposed restart.
According to the official release, the visit forms part of the Government’s efforts to advance the reopening process.
But 507 days after Moonilal’s June 23, 2025 parliamentary assurance that the Government would pursue a restart in the shortest possible time, questions loom over what has actually been achieved.
A review of public statements identifies at least eleven occasions when Moonilal offered near-term assurances, forecasts or deadlines concerning the restart process.
Not all were promises of immediate production. Some concerned reports, Cabinet decisions and investor negotiations. Nevertheless, the repeated message has been that progress is imminent.
In October 2025, Moonilal expressed hope that the refinery would be lit by Divali 2026. That deadline passed without a confirmed commercial restart. By November 2026, the target had shifted towards Divali 2027.
So what exactly has changed, beyond the dates?
What does a phased restart actually mean?
The Government increasingly describes its strategy as a phased restart, suggesting that selected processing units would resume operations before the entire facility becomes functional.
But which units will restart first? What products will they manufacture? At what production capacity? Using whose crude oil? And, most importantly, at what profit margin?
Moonilal recently suggested that initial production could begin within three to six months once financing is secured. Yet, as recently as November 6, the Government was still discussing a Request for Proposals to attract investors.
When does that three-to-six-month countdown begin?
A phased restart may be commercially sensible, but it also raises the possibility of restoring limited production without establishing a sustainable business.
There is a fundamental difference between successfully switching on refinery equipment and operating a profitable refinery.
Restarting a marginal business in a competitive international market
The Pointe-à-Pierre refinery closed in November 2018 following years of financial difficulties, mounting debt and concerns about its commercial viability.
Reopening it does not automatically resolve the structural problems that contributed to its closure.
International refining is fiercely competitive. Larger, more modern facilities benefit from economies of scale, greater processing efficiency and access to competitively priced crude oil.
Trinidad and Tobago must also confront its declining domestic crude production, raising the likelihood that substantial quantities of imported crude would be necessary.
The questions become unavoidable: Can the refinery purchase crude competitively, process it efficiently and sell petroleum products at margins sufficient to cover operating costs, maintenance, financing and future capital investment?
A November 12 Guardian column by T&T Patriots raised similar concerns, questioning whether the refinery could be operated safely, reliably, profitably and sustainably over a 15-to-20-year investment cycle without transferring substantial financial risks to taxpayers.
The column suggested rehabilitation expenditure could reach US$1 billion to US$1.5 billion, although these remain estimates rather than confirmed project costs.
Where is the investor, and what is the business model?
In the October 2026 Budget presentation, Finance Minister Davendranath Tancoo indicated that the Government was evaluating proposals from shortlisted local and international investors.
Yet weeks later, Moonilal was still discussing an RFP process.
Does the Government have a preferred investor? Is the refinery to be leased, sold, operated through a joint venture or managed under another arrangement?
Who finances the rehabilitation? Who secures the crude supply? Who assumes environmental liabilities? And what financial obligations will remain with the State?
These questions should be answered before taxpayers are asked to celebrate another milestone.
Another ribbon-cutting or a genuine economic turnaround?
No one disputes that a successful refinery restart could generate employment, stimulate economic activity and create opportunities for local contractors.
But political announcements do not create commercial viability.
The Government’s latest November 11 visit may demonstrate continued interest and political commitment. It does not, by itself, establish that financing has been secured, an operator selected or a commercially sustainable operating model agreed.
After 507 days, at least eleven public assurances and shifting timelines, citizens are entitled to more than expressions of confidence.
The concern is not whether Trinidad and Tobago can restart the refinery. It is whether the country can afford to restart an economically marginal operation in an increasingly competitive international market.
A ceremonial flare can be lit in a night. A ribbon can be cut in minutes. A workforce can be mobilised for an announcement.
But a commercially viable refinery must demonstrate sustained profitability, operational reliability and the ability to survive changing oil markets and successive political administrations.
The November 11 visit has therefore revived a legitimate question about what comes next.
Are we witnessing the genuine commercial resurrection of Pointe-à-Pierre, or the prolonged political announcement of a restart that has yet to become a viable business?
Five hundred and seven days later, Mr Moonilal, how soon is soon?