• 4 minutes "Saudi Armada heading to U.S.", "Dumping" is a WTO VIOLATION.
  • 7 minutes Trump will be holding back funds that were going to W.H.O. Good move
  • 11 minutes Washington doctor removed from his post, over covid
  • 15 minutes Which producers will shut in first?
  • 20 mins Why Trump Is Right to Re-Open the Economy
  • 35 mins Charts of COVID-19 Fatality Rate by Age and Sex
  • 41 mins A small trial finds that hydroxychloroquine is not effective for treating coronavirus
  • 4 hours US Shale Resilience: Oil Industry Experts Say Shale Will Rise Again
  • 2 hours 80's GOM Oil Fam: Mid-80's Oil Glut Part Deux?
  • 8 hours Wouldn't fall in demand balance it out?
  • 3 hours Its going to be an oil bloodbath
  • 18 hours Death Match: Climate Change vs. Coronavirus
  • 16 hours Free market or Freeloading off the work of others?
  • 17 hours ‘If it saves a life’: Power cut to 1.5 million Californians
  • 21 hours Russia's Rosneft Oil is screwed if they have to shut down production as a result of glut.
  • 25 mins CCP holding back virus data . . . . . . Spanish Flu 1918 MUTATED, Came in 3 waves, Lasted 14 months and killed upward 5% World population
Jen Alic

Jen Alic

 

More Info

Premium Content

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


Download The Free Oilprice App Today

Back to homepage






Leave a comment

Leave a comment




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