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» Liberia's Oil Sector

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 « Liberia's Oil Sector »  Liberia's Oil Sector
Still in its early stage, the Oil Sector of Liberia is one with huge prospect as there are plans of explorations as there are companies now holding oil exploration blocks with the aim to get their respective work programs as quickly as possible.
Like in any part of the world, the oil sector is usually divided into three (3) main categories or Components:
  •  Upstream
  •  Midstream
  •  Downstream
The Upstream deals with search operations put in place for locating potential underground or underwater crude oil and natural gas fields, drilling of exploratory wells, subsequently drilling and operation the wells that recover and bring the crude oil and/or raw natural gas to the surface.

The Midstream Operations are usually in the downstream category which deals mainly with the transportation and refining/processing of product s.

The Downstream Operations refers to the refining of petroleum crude oil and the processing and purifying of raw natural gas, as well as the marketing and distribution of products derived from crude oil and natural gas.
The Downstream sector touches consumers through products such as gasoline or petrol, kerosene, jet fuel, diesel oil, heating oil, fuel oil, lubricants, waxes, asphalt, natural gas, and Liquefied Petroleum Gas (LPG), as well as hundreds of petrochemicals.

This is where the activities of the Liberia Petroleum Refining Company (LPRC) come in;
We are responsible for storing and handling petroleum and petroleum products. This segment comprises of three (3) main areas;
  • Importation
  • Distribution and
  • Retailing
This sector performs numerous functions through the oil movement and supply section. It has the responsibility to discharge vessels and ensure that products are safely stored and appropriately handled.

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