National Oil Company of Liberia
Access to reliable and secure energy supplies is essential for economic stability and growth in the increasingly connected global energy market. With a population of over five million, Liberia depends heavily on imported petroleum products to meet its energy needs. NOCAL therefore intends to invest in the downstream sector by importing finished products, constructing a storage facility, and setting up mega stations across the country.
The proposed petroleum storage site near Buchanan Port, with possible extensions to Greenville Port, would serve as a vital hub in the regional energy supply network.
NOCAL intends to ensure that the layout of mega-stations nationwide includes large fuel storage tanks, multiple pump nozzles, and extensive underground piping for fuel and electrical connections.
The stations will feature advanced digital systems for payment and logistics, spacious retail areas for offices (e.g., government ministry outlets), and modern amenities such as upgraded restrooms and integrated logistics hubs.
NOCAL is a state-owned institution that manages Liberia’s petroleum resources, including exploration and development to ensure responsible national growth.
: No. NOCAL does not sell oil blocks. The Government, through the Liberia Petroleum Regulatory Authority, actively leases out acreages to reputable International Oil Companies (IOCs). This process involves the signing of a Production Sharing Contract (PSC) between the Government and the IOC, ensuring transparent and strategic collaboration to develop Liberia’s oil resources.
An oil block or petroleum acreage be acquired through three means:
a. Licensing Round (Competitive Bidding)
b. Direct Negotiations
c. Executive Allocation
No. Liberia is not currently producing oil. Exploration is ongoing, and production will begin only if commercially viable reserves are found.
The National Oil Company of Liberia (NOCAL) manages Liberia’s petroleum resources.
Its work includes:
NOCAL adheres to petroleum laws, open contracting processes, and collaborates with the Extractive Industries Transparency Initiative (EITI) to ensure accountability.