Liberia Takes the Wheel: State-Owned LPRC to Import Petroleum Products

Published: July 24, 2025

MONROVIA, Liberia — In a bold move to stabilize fuel prices and curb market failures, President Joseph Boakai has endorsed a new policy allowing the Liberia Petroleum Refinery Company (LPRC) to import petroleum products directly. This significant shift in Liberia’s energy policy aims to promote affordability, security, and competition in the fuel sector.

The Shift in Policy

For years, private companies have dominated the importation of petroleum products in Liberia, leading to periodic shortages and price hikes. The LPRC, under the leadership of Managing Director Amos Tweh, has partnered with Starcom Energy and Trading Limited, a global commodity trading firm, to bring much-needed change to the sector. “The LPRC Management, with the approval of the Board, deems it necessary to begin the importation of petroleum products into the Liberian market,” Tweh said.

A Step Towards Competition and Stability

Market analysts see the LPRC’s decision as a corrective measure that could inject competition and discipline into the sector. “This monopoly is dangerous to the economy,” one analyst said. “The President and LPRC are moving in the right direction. Direct importation by a state entity will relieve pressure on consumers and ensure market stability.”

A New Partnership

Starcom Energy, the LPRC’s international partner, is a leading petroleum product supplier in the ECOWAS and Americas regions. With a strong track record in petroleum logistics, particularly in Ghana, the company operates out of Dubai and Accra. This partnership marks a milestone achievement for the LPRC and is expected to bring stability to Liberia’s fuel economy.

A Turning Point for Liberia’s Fuel Economy

Despite volatile global oil prices, analysts believe that the LPRC’s direct importation strategy could be a turning point for Liberia’s fuel economy. President Boakai’s decision to return to the LPRC’s market intervention strategy is seen as a bold step towards ensuring access to basic commodities and improving livelihoods.