Middle East / Africa

Liberia flag
Summary | Profile

Country profile: Liberia

Location: Western Africa, bordering the North Atlantic Ocean, between Cote d'Ivoire and Sierra Leone
Climate: tropical; hot, humid; dry winters with hot days and cool to cold nights; wet, cloudy summers with frequent heavy showers
Terrain: mostly flat to rolling coastal plains rising to rolling plateau and low mountains in northeast
Size: 111370 sq. km total (Land area: 96320 sq. km  Water area: 15050 sq.km)
Population: 3,334,587 (July 2008 est.)
Languages: English 20% (official), some 20 ethnic group languages, of which a few can be written and are used in correspondence
Government: republic
Capital city: Monrovia
Legal system: dual system of statutory law based on Anglo-American common law for the modern sector and customary law based on unwritten tribal practices for indigenous sector; accepts compulsory ICJ jurisdiction with reservations
Currency: Liberian dollar (LRD)
Licensing:

Country profile

Regional leaders created the Economic Community of West African States (ECOWAS) on May 28, 1975 in Lagos, Nigeria. ECOWAS is comprised of 15 countries, which include: Benin, Burkina Faso, Cape Verde, Cote d’Ivoire , The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria , Senegal, Sierra Leone, and Togo. The leaders established ECOWAS to promote regional integration and economic growth in West Africa, as well as to create a monetary union in the region. However, ECOWAS has encountered problems in the process of regional integration including: political instability and lack of good governance that has plagued many member countries, the insufficient diversification of national economies, the absence of reliable infrastructure, and the multiplicity of organizations for regional integration with the same objectives. Commercial energy resources in ECOWAS, primarily petroleum and natural gas, are concentrated in coastal and offshore regions. Electricity in West Africa is generated through thermal (57.8 percent of installed capacity) or hydroelectric (42.2 percent) resources. #

Natural gas could take a more significant role in the Community's energy sector as fields in Nigeria and Côte d'Ivoire are developed. Due to a relatively small urban population in ECOWAS (approximately 33.9 percent) and lack of infrastructure, access to commercial energy sources is limited. In 2005, Nigeria had petroleum exports of 2.3 million barrels per day (bbl/d), while Côte d’Ivoire, exported 39,000 bbl/d of petroleum. All other ECOWAS countries are net energy importers. Settlement of freed slaves from the US in what is today Liberia began in 1822; by 1847, the Americo-Liberians were able to establish a republic. William TUBMAN, president from 1944-71, did much to promote foreign investment and to bridge the economic, social, and political gaps between the descendents of the original settlers and the inhabitants of the interior. In 1980, a military coup led by Samuel DOE ushered in a decade of authoritarian rule. In December 1989, Charles TAYLOR launched a rebellion against DOE's regime that led to a prolonged civil war in which DOE himself was killed.

A period of relative peace in 1997 allowed for elections that brought TAYLOR to power, but major fighting resumed in 2000. An August 2003 peace agreement ended the war and prompted the resignation of former president Charles TAYLOR, who faces war crimes charges in The Hague related to his involvement in Sierra Leone's civil war. After two years of rule by a transitional government, democratic elections in late 2005 brought President Ellen JOHNSON SIRLEAF to power. The UN Mission in Liberia (UNMIL) maintains a strong presence throughout the country, but the security situation is still fragile and the process of rebuilding the social and economic structure of this war-torn country will take many years.

Energy production and consumption


Oil Gas
Production:    
Consumption: 3,550 bbl/day (2005 est.)  
Exports: 23 bbl/day (2004 est.)  
Imports: 3,532 bbl/day (2004 est.)  
Reserves:    
Major fields:



Liberia - recent news

06 Sep 20
Liberia pre-qualifies Liberian owned companies to participate in the Liberia Offshore License Round 2020
Following a vigorous evaluation of Liberian companies who applied to be pre-qualified for the country’s ongoing Offshore License Round for the Harper Basin, The Liberia Petroleum Regulatory Authority (LPRA) has pre-qualified seven Liberian Companies.
20 Jul 20
Liberia responds to Covid-19 impact on the oil industry - adjusts bid evaluation criteria to lure investment in the Harper Basin
Liberia has made significant adjustments to its bid evaluation criteria for the 2020 Offshore Licensing Round for the Harper Basin. The modifications are in response to the devastating impact of Covid-19 on the global price of oil, share price of E&P companies, and the sensitivity of the Government of Liberia towards mitigating this impact and attracting international investment in the Harper Basin.
15 Apr 20
Liberia launches 2020 Harper Basin License Round
Liberia has formally launched the Liberia Offshore License Round. The round will be open from April 10, 2020 to February 28, 2021. Nine blocks will be on offer in the Harper Basin, one of the last unexplored and undrilled regions offshore West Africa: LB-25, LB-26, LB-27, LB-28, LB-29, LB-30, LB-31, LB-32, LB-33.
11 Dec 19
Liberia set to offer 9 offshore blocks in 2020 Harper Basin License Round
The Liberia Petroleum Regulatory Authority (LPRA), has announced the launch of the next licensing round, expected to commence in April 2020. Nine blocks will be on offer in the Harper Basin, one of the last unexplored and undrilled regions offshore West Africa.
13 Nov 17
Liberia: ExxonMobil and Canadian Overseas Petroleum relinquish Block LB-13, offshore Liberia
Canadian Overseas Petroleum Limited ('COPL') and ExxonMobil, its partner in, and operator of Block LB-13, offshore Liberia, have both elected not to enter into the third exploration period. This follows the disappointing results of the Mesurado-1 well, drilled in 2016.

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