• 5 minutes Rage Without Proof: Maduro Accuses U.S. Official Of Plotting Venezuela Invasion
  • 11 minutes IEA Sees Global Oil Supply Tightening More Quickly In 2019
  • 14 minutes Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 9 hours U.S. Senate Advances Resolution To End Military Support For Saudis In Yemen
  • 2 hours Let's Just Block the Sun, Shall We?
  • 2 hours Alberta govt to construct another WCS processing refinery
  • 9 hours Waste-to-Energy Chugging Along
  • 13 hours What will the future hold for nations dependent on high oil prices.
  • 13 hours Venezuela continues to sink in misery
  • 17 hours Contradictory: Euro Zone Takes Step To Deeper Integration, Key Issues Unresolved
  • 22 hours UK Power and loss of power stations
  • 8 hours Regular Gas dropped to $2.21 per gallon today
  • 22 hours EPA To Roll Back Carbon Rule On New Coal Plants
  • 1 day No, The U.S. Is Not A Net Exporter Of Crude Oil
  • 1 day Zohr Giant Gas Field Increases Production Six-Fold
  • 4 hours Sane Take on the Russia-Ukraine Case
  • 3 hours Sleeping Hydrocarbon Giant
Alt Text

OPEC Surprises Markets With Last Minute Deal

Oil markets appeared to have…

Alt Text

Are Floating Reactors The Future Of Nuclear Energy?

Russia’s Rosatom is a world…

Jen Alic

Jen Alic

 

More Info

Trending Discussions

Liberia Moves to Allow Foreign Oil and Gas Exploration

For the first time since it gained independence over a century and a half ago, Liberia has struck an agreement with a foreign company for the exploration of crude oil in its territorial waters. On 29 August, the government of Liberia announced it had granted Chevron Corp. concessions to explore three deepwater areas for offshore oil in a three-year program set to start later this year. Liberia is also granting exploration rights to a number of other companies, including Repsol Exploration SA, Woodside West Africa Pty Ltd., Regal Liberia Ltd., and Anadarko Petroleum Corp. Liberia's legislature must still approve the agreement.

Analytical Note: Still reeling from the after effects of 25 years of chaos and civil war, Liberia appears to have never produced any oil, and transnational companies are keen to begin exploration for oil and gas. The exploration deals will be a litmus test for President Ellen Johnson Sirleaf, who has pledged to use the country's natural resources for growth and development. Furthermore, the Legislature's ratification of the Chevron agreement is not a done deal, and could find itself halted by domestic politics, especially with 2011 elections just around the corner. Political tensions in Liberia are on the rise, and the opposition could opt to use the deal against Sirleaf, who is seeking a second term in the 2011 elections.

By Jen Alic




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News