Liberian lawmakers say current oil deals breach law
Liberia’s House of Representatives has unanimously voted for the re-negotiation of all of the country’s oil contracts.
The move comes just weeks after the National Oil Company (NOCA) in Monrovia announced that an international oil firm had discovered a substantial quantity of oil off the Liberian coast, but it’s not yet established whether it’s of significant commercial quantity.
Several oil contracts are already in force between the Liberian government several international oil companies.
But lawmakers from the lower house of the legislature believe that the current oil contracts violate the petroleum law and that they don’t serve the best interest of the Liberian people.
The decision by members of the House of Representatives was reached
during a regular session on Tuesday.
A stamen published on Liberia’s oil company’s website said “NOCAL welcomes the renewed engagement of the Legislature in the evolving governance of Liberia’s oil sector. The constructive engagement and cooperation of all parties and stakeholders is essential to the successful reform and management of Liberia’s potential hydro-carbon sector.”
WADR’s Correspondent William Selmah reports from Monrovia.
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