President Joseph Boakai, has commended the Liberia Petroleum Refining Company (LPRC) for its strong operational performance and expressed full support for its proposed expansion and modernization of the LPRC Product Storage Terminal (PST), describing the project as a strategic investment in Liberia's long-term energy security.
The endorsement came on Monday at the Executive Mansion during a routine engagement where LPRC's management and Board of Directors formally presented the company's 2025 Annual Report and First Quarter 2026 Performance Report to the President.
The reports outlined what the institution described as significant operational gains, improved financial performance, and sustained institutional growth under its current leadership, positioning LPRC among the country's most stable and high-performing state-owned enterprises.
President Boakai welcomed the presentation and praised both the Board and management for what he called dedicated, professional, and results-driven leadership.
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He further noted that LPRC has consistently maintained strong performance while ensuring steady nationwide petroleum supply and attracting minimal negative public criticism.
The President also commended the company for its role in sustaining fuel availability across the country, particularly during recent global disruptions linked to instability in the Middle East.
He said LPRC's ability to maintain stable fuel supply despite international market volatility and supply chain challenges played a key role in safeguarding Liberia's energy security and supporting economic stability.
During the presentation, LPRC Managing Director Amos B. Tweh unveiled a major development proposal titled: "The Expansion and Modernization of the LPRC Product Storage Terminal: A Strategic Investment in Energy Security, Economic Growth, and Liberia's Future."
The proposal outlines plans to construct a new tank farm that will add 50,000 metric tons of storage capacity to the existing terminal. According to LPRC, the expansion is aimed at strengthening national energy security, modernizing storage infrastructure, and improving the country's ability to maintain a consistent and reliable fuel supply.
The project is also expected to enhance Liberia's position as a potential regional petroleum storage and logistics hub, improving competitiveness within West Africa's energy and trade sector.
President Boakai expressed strong support for the initiative, describing it as a forward-looking investment aligned with his administration's national development priorities. He formally endorsed the project and gave it his "full support and blessing" for implementation.
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He emphasized that such initiatives reflect innovation and forward planning by young and emerging national leaders committed to transforming Liberia's economy.
According to the President, investments of this nature are expected to generate long-term benefits, including job creation, stronger economic resilience, and improved energy infrastructure for future generations.
In response, Managing Director Amos B. Tweh thanked President Boakai for his continued confidence in LPRC and reaffirmed the company's commitment to national development.
He pledged that LPRC will continue pursuing strategic investments aimed at strengthening energy security, increasing government revenue, expanding employment opportunities, and contributing to Liberia's broader economic transformation agenda.
