LPRC and CONEX Petroleum Host Stakeholders Meeting
The Mamba Point hotel was a scene of a highly rated stakeholder conference on the supply and distribution of Heavy Fuel Oil (HFO) in Liberia.
On Wednesday, November 13, the Liberia Petroleum Refining Company (LPRC) and Conex, a petroleum Importer, held a one day stakeholder conference at the Mamba Point hotel where several personalities including those in national government, petroleum importers, mining sector, etc. had the opportunity to have an insight on plans for the supply of HFO in Liberia as a result of an LPRC, Conex partnership that would bring to the limelight a US$20 Million project that would enable the latter to supply HFO in the country beginning 2014.
Managing Director T. Nelson Williams, II in his opening remarks said it was time to show and let stakeholders know about the project “this is a meaningful project that will improve the downstream petroleum sector”, Mr. Williams intoned.
Commerce Minister Axel Addy in a brief response said Liberia is ready for business as its Gross Domestic Product (GDP) is growing and thanked the LPRC and Conex for the foresight in putting forth plans for the supply of HFO in the country.
He also noted that with the mining sector growing, there is a high demand for Heavy Fuel Oil supply.
“We will continue to encourage collaboration and will continue to encourage the private sector”. Minister Addy indicated.
There were several presentation made with MD T. Nelson Williams, II eleborating on Pricing, Regulation & Compliance of HFO Supply and Distribution Chain in Liberia and Conex Chief Executive Officer, Cheriff Abdallah,, touching on the Technical presentation of the HFO supply and distribution Chain in Liberia.
Mr. Abdallah among other things thanked the Government of Liberia through the LPRC for enabling them spearhead the Crude Storage Terminal (CST) project that will lead to the supply of Heavy Fuel Oil in the country.
There were also remarks from petroleum importers president, Siaka Toure, and other foreign experts on HFO.
With the ongoing rehabilitation and expansion of the Crude Storage Terminal (CST) expected to be completed in 2014, the supply of Heavy Fuel Oil will resume after 23 years with entities like the Liberia Electricity Corporation (LEC) also benefiting.
Companies like Western Cluster, Putu Iron Ore, Accelor Mittal, etc. are all expected to be HFO customers.
