Monrovia– The management team of the Liberia Petroleum Refining Company has signed a long-term Sale Purchase Agreement with Stratcon Energy and Trading Limited in Monrovia.
The signing ceremony which took place on Monday May 13 2024, seeks to bring operational agreement upon the request from LPRC to Stratcon Energy Trading Limited which intends to establish a long-term and sustained supply of refined petroleum products to the Liberia Petroleum Refining Company by Stratcon Energy Trading and provides the condition where LPRC will leverage on the Stratcon’s regional capabilities and access to key petroleum resources.
Speaking at the sinning ceremony the Managing Director of the Liberia Petroleum Refining company Mr. Amos Tweh said the agreement seeks to marks a significant step in advancing synergy between the two companies and fostering mutual growth and value for both parties.
Mr, Tweh lamented that it will provide LPRC the ability and flexibility to secure the consistent quality of finished petroleum products and ensure fuel availability on the Liberian market.
The LPRC Boss however assured Stratcon delegation of his institution fullest support and corporation in honoring the terms and conditions of the agreement in line with the laws of Liberia.
President Joseph Nyumah Boakai’s agenda which is aligned to encourage private sector investment, Mr. Tweh informed the gathering that all products accrued as a result of the contract between LPRC and Stratcon Energy and Trading Limited, will be sold to any importer who so desires.
This according to him, is meant to keep business afloat and eliminate the difficulties associated with obtaining letters of credit from banks.
Mr. Tweh noted that the signing and coming into operations of this contract will help LPRC regain its statutory responsibility of importing, distributing petroleum products throughout the commerce of Liberia which over the years has been franchised to private Oil importing companies.
For his part , the head of delegation of Stratcon Energy and Trading Limited Mr. Harry Campbell extol LPRC for the opportunity afforded his company to do business.
“We are happy that our engagements with LPRC over the last several months are coming to take fruition and we hope this agreement will open LPRC to the world of energy stock that will benefit the economies of Liberia and Ghana”. Mr. Harry Campbell said.
The signing ceremony on took place at the Product Storage Terminal on Bushrod Island in Monrovia and was witnessed by members of the Board of Directors of both LPRC and Stratcon Energy & Trading Limited and members of the Senior management team of LPRC.
Headquartered in Qatar, the United Arab Emirates, and Accra, Ghana, Stratcon Energy and Trading is a leading petroleum conglomerate engaged in refining, distribution, and sales of crude oil and petroleum products in the West Africa region and the Americas.
By: Domingo Dargbeh
