Liberia: NOCAL Responds To Global Witness Allegations on Oil Bid

Mar 3, 2015 | Front Page Africa
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The attention of the National Oil Company of Liberia (NOCAL) has been drawn to misleading allegations made by Global Witness and carried by FrontPageAfrica newspaper aimed at discrediting the bid round conducted by the Government of Liberia (GoL) and NOCAL, and misrepresenting the otherwise diligent process undertaken by NOCAL and the GoL to put the oil sector on an even keel.

In this regard, NOCAL wishes to note that the bid round was designed to facilitate rapid investment into Liberia’s oil sector, and provide much needed resources to the country at a time when the country’s economy was being affected adversely by various factors including significant drops in prices of our key exports - rubber and iron ore.

Additionally, the bid round sought to encourage the participation of Liberian businesses in the oil sector, promote local businesses, create jobs and skills, and develop Liberian companies that can participate in the upstream hydrocarbon sector.