Liberia Petroleum Refining Company

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PRESIDENT BOAKAI COMMENDS LPRC’S OUTSTANDING PERFORMANCE AND ENDORSES VISION FOR TRANSFORMATIONAL EXPANSION OF NATIONAL PETROLEUM INFRASTRUCTURE

Monrovia, Liberia – June 23, 2026: President Joseph N. Boakai, Sr. yesterday commended the Liberia Petroleum Refining Company (LPRC) for its outstanding performance and welcomed the Company’s vision for the expansion and modernization of the LPRC Product Storage Terminal (PST).

Earlier yesterday, as part of its regular engagement with the Executive Mansion, the management and members of the Board of Directors of the Liberia Petroleum Refining Company formally presented the Company’s 2025 Annual Report and First Quarter 2026 Performance Report to the President. The reports highlighted significant achievements, strong financial and operational performance, and continued growth under the current Board and Management.

In response, President Boakai stated that he was highly impressed with LPRC’s performance, praising the Board, Management, and staff for their dedication, professionalism, and results-oriented leadership.

The President further noted that LPRC has emerged as one of the Government of Liberia’s strongest-performing state-owned enterprises, consistently delivering exceptional results while maintaining a positive public image and attracting little to no negative publicity.

President Boakai also commended the Management and staff of LPRC for their steadfast leadership and effective operational planning in ensuring the uninterrupted availability of petroleum products throughout Liberia, particularly during the recent crisis in the Middle East. He praised the Company for maintaining a stable and reliable fuel supply despite global market uncertainties and supply chain disruptions, thereby safeguarding the country’s energy security and economic stability.

As part of the presentation, and in furtherance of the President’s vision to strengthen Liberia’s energy security through strategic investments, Managing Director Hon. Amos B. Tweh presented a proposal titled, “The Expansion and Modernization of the LPRC Product Storage Terminal: A Strategic Investment in Energy Security, Economic Growth, and Liberia’s Future.”

The proposed investment in a new tank farm will add 50,000 metric tons of storage capacity to LPRC’s Product Storage Terminal, strengthening Liberia’s energy security, expanding national petroleum storage capacity, modernizing terminal operations, and enhancing the country’s ability to maintain a stable and reliable fuel supply. The project will also position Liberia as a regional petroleum storage and logistics hub.

In response, President Boakai expressed his enthusiasm for the project and conveyed his full support and blessing for the initiative, describing it as a forward-looking investment that will contribute significantly to Liberia’s energy security, economic growth, and long-term development.

He further noted that projects of this magnitude reflect the vision, innovation, and commitment of forward-thinking young leaders who are dedicated to advancing Liberia’s development. The President emphasized that the Liberian people stand to benefit immensely from bold and strategic investments that strengthen the economy, create employment opportunities, enhance national resilience, and secure a more prosperous future for generations to come.

Managing Director Tweh thanked President Boakai for his continued confidence in the Company and reaffirmed LPRC’s commitment to implementing transformational projects that will strengthen national energy security, create employment opportunities, increase government revenues, and contribute meaningfully to Liberia’s long-term economic growth and development.