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House Ponders Probe Into LPRC....
Date Uploaded: Sep 15, 2016

 Nimba County Representative R. Matenokay Tingban

 

House Ponders Probe Into LPRC, Conex Lease Agreement
By Wilfred Gortor

MONROVIA, September 15 (LINA) – The House of Representatives will constitute a ‘special committee’ to probe the lease agreement between the Liberia Petroleum Refining Company (LPRC) and Conex Petroleum Services.

The decision followed a motion file by Nimba County Representative R. Matenokay Tingban calling for the probe based on a communication from Bong County District #5 Representative Edward W. Karfia alleging dubious transactions.

Karfia on Thursday petitioned the Plenary to investigate the lease agreement, claiming that its terms and conditions are against government revenue projections.

It can be recalled that the National Legislature ratified a Consolidated Lease and Management Agreement between the LPRC and Conex Petroleum Services to manage the LPRC Crude Storage Facility.

Under the agreement entered into on February 27, 2014, LPRC leased its Crude Storage Terminal to Conex Petroleum for a period of 20 years with an option of extension for additional 20 years under terms and conditions agreed upon.

According to the agreement, Conex Petroleum is to rehabilitate, refurbish, upgrade and reconstruct the Crude Storage Facility of which the LPRC has leasehold rights within the parameters of the National Port Authority.

But Karfia, in a communication addressed to Presiding Officer Hans Barchue on Thursday, contended that during the administrations of the late LPRC Managing Director Harry Greaves and his successor T. Nelson Williams, over US$50 million was spent to rehabilitate the LPRC storage facilities.

He said it is disheartening that despite the huge amount of money spent, the LPRC management entered into a third-party agreement, “the terms and conditions of which are against government revenue projections.”

The Lofa lawmaker also wants Plenary to investigate the amount spent on the rehabilitation of the facilities which, according to him, has not yielded any fruitful result.
LINA WSG/TSS/PTK

 

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