LPRC signs Sales Purchase Agreement with Stratcon Energy & Trading Limited.
The Liberia Petroleum Refining Company is pleased to announce a long-term Sale Purchase Agreement with Stratcon Energy and Trading Limited.
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.
The signed agreement which is expected to become operational upon the request from LPRC to Stratcon Energy Trading, Limited 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.
“This agreement marks a significant step in advancing synergy between our two companies and fostering mutual growth and value for both parties. In addition, 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 Managing Director, Amos Tweh remarked. Speaking further, the LPRC Managing Director assured the stratcon delegation of LPRC’s fullest corporation in honoring the terms and conditions of the agreement in line with the laws of Liberia.
In line with President Joseph Nyumah Boakai's agenda which is aligned to encourage private sector investment, the Mr. Tweh informed the gathering that all products accrued as a result of the contract between LPRC and Start on Energy and Trading, limited, will be sold to any importer who so desires. This is meant to keep their business afloat and eliminate the difficulties associated with obtaining letters of credit from banks.
In a brief remark, Mr. Harry Campbell the head of the delegation of Stratcon Energy Trading, Limited thanked 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”. The signing ceremony on Wednesday, 8th May 2024 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 Trading, Limited and members of the Senior management team of LPRC.
The signing and coming into operations of the contract will help LPRC regain its statutory responsibility of importing, distributing petroleum products throughout the commerce of Liberia which over the year has been franchised to private Oil importing companies.
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