{"id":78790,"date":"2025-07-25T10:40:34","date_gmt":"2025-07-25T10:40:34","guid":{"rendered":"https:\/\/www.africa-press.net\/liberia\/all-news\/boakai-supports-lprc-petroleum-import-for-market-stability"},"modified":"2025-07-25T11:08:31","modified_gmt":"2025-07-25T11:08:31","slug":"boakai-supports-lprc-petroleum-import-for-market-stability","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/liberia\/all-news\/boakai-supports-lprc-petroleum-import-for-market-stability","title":{"rendered":"Boakai Supports LPRC Petroleum Import for Market Stability"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Liberia. <\/strong><\/span>President Joseph Boakai endorsed a bold new policy by the Liberia Petroleum Refinery Company (LPRC) to import petroleum products directly, a move aimed at curbing persistent market failures and stabilizing fuel prices across the country.<\/p>\n<p>Speaking of the initiative, Boakai\u2014himself a former employee of the LPRC\u2014expressed confidence that the state-owned entity is poised to meet the growing demands of ordinary Liberians.<\/p>\n<p>\u201cWe are fortunate that there has been no shortage,\u201d the President said. \u201cWe are sure this new policy move will improve service delivery.\u201d<\/p>\n<p>For years, the importation of petroleum products into Liberia has been franchised by private companies. However, rising global fuel costs, market inefficiencies, and periodic shortages have strained the system, prompting the government to reconsider its approach. The President\u2019s endorsement signals a significant shift in Liberia\u2019s energy policy, one intended to promote affordability, security, and competition.<\/p>\n<p>At the center of the change is Amos Tweh, the LPRC\u2019s Managing Director, who has led negotiations with Starcom Energy and Trading Limited, a global commodity trading firm based in Ghana and the United Arab Emirates. The partnership marks what Tweh called \u201ca milestone achievement\u201d since the founding of the LPRC.<\/p>\n<p>\u201cThe LPRC Management, with the approval of the Board, deems it necessary to begin the importation of petroleum products into the Liberian market,\u201d said Tweh, aligning the move with the Boakai administration\u2019s broader agenda to improve livelihoods by ensuring access to basic commodities.<\/p>\n<p>For years, petroleum importers in Liberia operated in a quasi-monopolistic environment, controlling the supply chain with little public oversight. The result was frequent shortages, price hikes, and, under the previous administration, widespread criticism from citizens over fuel unavailability.<\/p>\n<p>Critics within the importing community have alleged that the new government-backed arrangement could lead to job losses, although they have offered no evidence to support this claim. Market analysts, however, see the LPRC\u2019s decision as a corrective measure that could inject much-needed competition and discipline into a sector.<\/p>\n<p>\u201cThis monopoly is dangerous to the economy,\u201d said one economic analyst. \u201cThe President and LPRC are moving in the right direction. Direct importation by a state entity will relieve pressure on consumers and ensure market stability.\u201d<\/p>\n<p>Starcom Energy, now the LPRC\u2019s international partner, is one of the leading petroleum product suppliers in the ECOWAS and Americas regions. The company has a strong track record in petroleum logistics, particularly in Ghana, and operates outside of Dubai and Accra.<\/p>\n<p>Although global oil prices remain volatile, one analyst who prefers annonimity said that Boakai\u2019s decision to return to the LPRC\u2019s market intervention strategy could be a turning point for Liberia\u2019s fuel economy.<\/p>\n<p>Varney Dukuly is an award winning Liberian Journalist<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Liberia<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Liberia. President Joseph Boakai endorsed a bold new policy by the Liberia Petroleum Refinery Company (LPRC) to import petroleum products directly, a move aimed at curbing persistent market failures and stabilizing fuel prices across the country. Speaking of the initiative, Boakai\u2014himself a former employee of the LPRC\u2014expressed confidence that the state-owned entity is [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":78789,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234],"class_list":["post-78790","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-liberia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Boakai Supports LPRC Petroleum Import for Market Stability - Liberia<\/title>\n<meta name=\"description\" content=\"President Joseph Boakai endorsed a bold new policy by the Liberia Petroleum Refinery Company (LPRC) to import petroleum ...\" \/>\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\/boakai-supports-lprc-petroleum-import-for-market-stability\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boakai Supports LPRC Petroleum Import for Market Stability\" \/>\n<meta property=\"og:description\" content=\"President Joseph Boakai endorsed a bold new policy by the Liberia Petroleum Refinery Company (LPRC) to import petroleum ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/liberia\/all-news\/boakai-supports-lprc-petroleum-import-for-market-stability\" \/>\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=\"2025-07-25T10:40:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-25T11:08:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/liberia\/sites\/37\/2025\/07\/sm_1753428915.850327.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\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\/boakai-supports-lprc-petroleum-import-for-market-stability#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/boakai-supports-lprc-petroleum-import-for-market-stability\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/liberia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Boakai Supports LPRC Petroleum Import for Market Stability\",\"datePublished\":\"2025-07-25T10:40:34+00:00\",\"dateModified\":\"2025-07-25T11:08:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/boakai-supports-lprc-petroleum-import-for-market-stability\"},\"wordCount\":467,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/boakai-supports-lprc-petroleum-import-for-market-stability#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/liberia\/sites\/37\/2025\/07\/sm_1753428915.850327.jpg\",\"keywords\":[\"Liberia\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/liberia\/all-news\/boakai-supports-lprc-petroleum-import-for-market-stability#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/boakai-supports-lprc-petroleum-import-for-market-stability\",\"url\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/boakai-supports-lprc-petroleum-import-for-market-stability\",\"name\":\"Boakai Supports LPRC Petroleum Import for Market Stability - 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