{"id":57364,"date":"2024-05-10T11:22:30","date_gmt":"2024-05-10T11:22:30","guid":{"rendered":"https:\/\/www.africa-press.net\/liberia\/all-news\/lprc-to-import-petroleum-products"},"modified":"2024-05-10T11:36:18","modified_gmt":"2024-05-10T11:36:18","slug":"lprc-to-import-petroleum-products","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/liberia\/all-news\/lprc-to-import-petroleum-products","title":{"rendered":"LPRC to Import Petroleum Products"},"content":{"rendered":"

Africa-Press – Liberia. <\/strong><\/span>The Liberia Petroleum Refining Company (LPRC) has announced its plans to import petroleum products into the Liberian market through an agreement with Stratcon Energy and Trading Ltd., a Ghanaian-based oil import and distribution company.<\/p>\n

The partnership, which is known as a Sales Purchase Agreement (SPA), was formalized during a signing ceremony held on Wednesday, May 8, at the Product Storage Terminal (PST) on Bushrod Island.<\/p>\n

LPRC Managing Director Amos B. Tweh hailed the agreement as a significant moment for the company, stating, \u201cToday is truly a remarkable day in the history of the LPRC. This is a milestone achievement since the founding of the company.\u201d<\/p>\n

He explained that the decision to import petroleum products is part of LPRC\u2019s responsibilities to distribute, store, and sell such products. \u201cAfter many years, LPRC is embarking on a momentous journey of importing petroleum products,\u201d he said.<\/p>\n

Tweh emphasized that the goal is to ensure energy security and market stability. \u201cWe believe that this is necessary to ensure energy security for our country and, at the same time, to ensure market stabilization and balance in the market overall,\u201d he added.<\/p>\n

Tweh clarified that LPRC\u2019s role would be focused on the supply and distribution of products rather than entering the retail market.<\/p>\n

\u201cWhen LPRC imports the product, we will have it in our tanks and provide it to importers, distributors, and those who want it,\u201d he said. \u201cWe are not going into the retail market.\u201d<\/p>\n

The new partnership with Stratcon-Ghana was the result of discussions with potential suppliers in the region. \u201cAs a result of our discussions, the management of LPRC, with the approval of the Board, has seen it necessary to forge a strong partnership with Stratcon-Ghana for the supply of petroleum products on the Liberian market,\u201d Tweh said.<\/p>\n

The Executive Director of Stratcon Energy and Trading Ltd, Harry Campbell, expressed enthusiasm about the partnership and its potential benefits.<\/p>\n

\u201cWe have been engaging LPRC for some months now and are happy that this engagement is finally taking fruition,\u201d Campbell said. \u201cWe hope that this partnership will create other opportunities to strengthen the Liberia petroleum sector.\u201d<\/p>\n

LPRC\u2019s Board chairman, Aaron J. Wheagar, highlighted the importance of the deal for Liberia\u2019s fuel security and stability.<\/p>\n

\u201cWe are about to sign an agreement that will make LPRC ensure that we have fuel security in this country,\u201d he said. \u201cIf we have fuel available on the Liberian market, it will lead to political and economic stability.\u201d<\/p>\n

Wheagar clarified that the agreement with Stratcon is not intended to block other importers from bringing products into the country. \u201cThe board instructed LPRC not to exceed 30% of the supply on the market for the first year,\u201d he stated.<\/p>\n

He also mentioned that LPRC is open to working with other potential suppliers.<\/p>\n

The agreement marks a major step for LPRC and Stratcon Energy in their efforts to enhance the availability and affordability of petroleum products in Liberia. The partnership aims to strengthen the country\u2019s energy security and support the broader economy.<\/p>\n

For More News And Analysis About Liberia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Liberia. The Liberia Petroleum Refining Company (LPRC) has announced its plans to import petroleum products into the Liberian market through an agreement with Stratcon Energy and Trading Ltd., a Ghanaian-based oil import and distribution company. The partnership, which is known as a Sales Purchase Agreement (SPA), was formalized during a signing ceremony held […]<\/p>\n","protected":false},"author":84,"featured_media":57363,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,237,234],"class_list":["post-57364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-liberia","tag-liberia"],"yoast_head":"\nLPRC to Import Petroleum Products - Liberia<\/title>\n<meta name=\"description\" content=\"The Liberia Petroleum Refining Company (LPRC) has announced its plans to import petroleum products into the Liberian mar ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/liberia\/all-news\/lprc-to-import-petroleum-products\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LPRC to Import Petroleum Products\" \/>\n<meta property=\"og:description\" content=\"The Liberia Petroleum Refining Company (LPRC) has announced its plans to import petroleum products into the Liberian mar ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/liberia\/all-news\/lprc-to-import-petroleum-products\" \/>\n<meta property=\"og:site_name\" content=\"Liberia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-10T11:22:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-10T11:36:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/liberia\/sites\/37\/2024\/05\/sm_1715328305.720119.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/lprc-to-import-petroleum-products#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/lprc-to-import-petroleum-products\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/liberia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"LPRC to Import Petroleum Products\",\"datePublished\":\"2024-05-10T11:22:30+00:00\",\"dateModified\":\"2024-05-10T11:36:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/lprc-to-import-petroleum-products\"},\"wordCount\":519,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/lprc-to-import-petroleum-products#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/liberia\/sites\/37\/2024\/05\/sm_1715328305.720119.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Liberia\",\"Liberia\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/liberia\/all-news\/lprc-to-import-petroleum-products#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/lprc-to-import-petroleum-products\",\"url\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/lprc-to-import-petroleum-products\",\"name\":\"LPRC to Import Petroleum Products - 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