Tuesday, March 10

The Managing Director of the Liberia Petroleum Refining Company (LPRC), Amos Tweh, has applauded Montserrado County Senator Abraham Darius Dillon for submitting a draft bill intended to reinforce the legal structure guiding Liberia’s petroleum industry.‎

‎Tweh made the statement on Monday during a public hearing organized by a joint committee of the Liberian Senate, which includes the Committees on Judiciary, Claims and Petitions; Hydrocarbon and Energy; and Ways, Means and Finance. The hearing formed part of the Senate’s review of the proposed legislation that seeks to formally establish and strengthen LPRC through statutory enactment.‎

‎The session brought together government representatives, private sector actors, and industry specialists who were invited to provide feedback on the draft law designed to reform and modernize Liberia’s downstream petroleum sector while strengthening national energy security.‎

‎Addressing lawmakers, Tweh commended Senator Dillon and other members of the Senate for what he described as a patriotic effort to improve governance in the country’s petroleum sector.‎

‎Speaking on behalf of LPRC’s management, Tweh expressed appreciation to the Montserrado lawmaker and his colleagues for demonstrating foresight and commitment to national development through the proposed legislation.‎

‎He noted that the legal framework currently regulating the petroleum sector was enacted in 1989 and now requires significant updates to reflect present-day realities in the energy industry.‎

‎Tweh explained that the 1989 Exclusive Rights Act granted LPRC authority to import, store, distribute, and market petroleum products across Liberia, adding that the decision was a deliberate national policy aimed at maintaining institutional oversight over a vital economic sector.‎

According to him, the proposed reform would strengthen LPRC’s statutory mandate while ensuring that the downstream petroleum market remains stable and properly regulated.‎

‎He therefore urged the Senate to carefully consider amending the 1989 law, emphasizing that such reform would be both timely and necessary to improve the country’s petroleum sector and safeguard national energy security.‎

‎Tweh clarified that the proposed changes would not eliminate private sector participation in the industry but would instead create a stronger institutional structure to ensure transparency and stability in petroleum supply management.‎

‎Meanwhile, Senator Dillon explained that the purpose of the bill is to give LPRC a clear legal foundation since the institution currently operates mainly under articles of incorporation rather than an Act passed by the Legislature.‎

‎According to the Senator, LPRC was established in 1978 through incorporation documents, but there has never been a comprehensive legislative framework outlining its mandate, limitations, and governance structure.‎

‎He noted that operating under articles of incorporation makes the institution function more like a private business that must renew its registration annually, unlike a public entity created by law.‎

‎The proposed legislation, Dillon said, would define the institution’s governance structure, administrative responsibilities, and accountability mechanisms.‎

He added that the bill would also authorize the President of Liberia to appoint LPRC’s leadership, subject to confirmation by the Liberian Senate, while clearly outlining the agency’s operational responsibilities.‎

‎Dillon further emphasized that the public hearing was intended to gather views from stakeholders to help shape the final version of the bill before legislative action is taken.‎

‎If passed into law, the proposed legislation is expected to provide LPRC with a stronger legal mandate, improve regulatory clarity in Liberia’s petroleum sector, and support the country’s energy security while still allowing room for private sector involvement.‎

‎The Senate Joint Committee is expected to review the submissions from the hearing and present its recommendations to the full Senate for further consideration.

Share.

Wilmot Konah is DN News Liberia's News Editor. He has several years of professional experience working in Print, Digital and Broadcast Media.

Leave A Reply

Exit mobile version