Saturday, July 24, 2010

Liberia, Nigeria sign oil deal

Oil Well
During the signing ceremonies which took place in the Federal Republic of Nigeria, the Liberian government was represented by Justice Minister, Cllr. Christina Tah and LPRC’s Managing Director T. Nelson Williams.

By the scope of the “purchase and sale contract” signed and entered into by the two nations, the LPRC is being provided the opportunity now to allocate 20,000 barrels per day of Nigeria cruel oil from the NNPC.

The news of the signing of the mouthwatering contract was revealed yesterday at a news conference attended by members of the LPRC Board in persons of Prof. Wilson Tarpeh as chairman, Cllr. David A.B. Jallah, Samuel P. Jackson, William Smith as well as Justice Minister Cllr. Christina Tah.

The contract which is expected to last for a period of twelve calendar months, according to the management of the LPRC, is also renewable for an additional period of twelve calendar months upon negotiations between the LPRC and NNPC.

to the Liberian government which in return will be used for other construction projects.
“This manifestation of assistance will enable the government of Liberia to accrue about US$120,000 per month, an amount that will be used for national reconstruction projects,” a prepared statement read by the Managing Director Williams revealed.

Most importantly, owing to the fact that the LPRC does not have refinery facilities, it has signed what it calls “Management Service Contract (MSC)” on the same day it signed the contract with Nigerian Government with the Sahara Energy Resource, Ltd.

Africa Online News

No comments:

Post a Comment

Related Posts with Thumbnails