A request from the Liberian government through the Liberia Electricity Corporation, requesting the banking institutions’ views on the potential for a single source leasing out of the excess capacity of the storage tank at Bushrod Island, on a short-term basis to Aminata Petroleum, has been rejected by the global body because it would hurt the capacity of the LEC to deliver electricity. //

LPRC is the state-owned enterprise with the exclusive mandate to refine, store, distribute, and supply petroleum products to the Liberian market.

On July 31, 1989, an Act of the Legislature granted the Liberia Petroleum Refining Company (“LPRC”) exclusive rights for the importation, sale and distribution of petroleum and petroleum products within Liberia.

Section 1 of the Act states that “The importation of all petroleum products for the Liberian domestic market, for internal use within the Republic of Liberia, and/or for transaction through the commerce of Liberia, shall be the sole and exclusive right of LPRC, and that NO entity, individual, concessionaires, public or private corporation nor any governmental entity, foreign or otherwise, shall import petroleum products into the territorial confines of the Republic of Liberia, except with the written consent of the Liberia Petroleum Refining Company duly approved by the President of Liberia”. //

During the presidency of Madam Ellen Johnson Sirleaf, CONEX Petroleum Group, headed by Cherif M. Abdallah was granted the rights for the importation, storage, sale and distribution of petroleum and petroleum products within the Republic of Liberia. This has created a direct competition with LPRC. //

SRIMEX headed by Musa Bility is also in direct competition with LPRC. Like CONEX, they were also given the rights for the importation, storage, sale and distribution of petroleum and petroleum products within the Republic of Liberia.