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

22 Aug 24
Liberia launches Direct Negotiation Licensing Round with support from TGS, offering enhanced seismic data for offshore exploration
The Government of Liberia, through the Liberia Petroleum Regulatory Authority (LPRA), has initiated a Direct Negotiation Licensing Round featuring 29 offshore blocks in the Liberia and Harper Basins.
10 Jun 24
Liberia: TGS and Liberia sign new multi-client 2D and 3D seismic reprocessing agreements
TGS has partnered with the National Oil Company of Liberia (NOCAL) to undertake significant additional multi-client seismic data reprocessing offshore Liberia.
24 Apr 23
Liberia says Exxon applied for four offshore oil blocks
ExxonMobil has applied to prequalify for four offshore oil blocks in Liberia, the West African country’s state oil regulator said in a statement
19 May 22
Liberia: TGS announces enhancement of key 3D seismic data offshore Liberia
TGS has announced an agreement with the National Oil Company of Liberia to reprocess over 5,100 sq kms of 3D seismic data over Blocks 8 & 9 in the offshore Liberia basin.
15 Jun 21
Liberia announces Direct Negotiations for 33 offshore blocks
The Government of Liberia, through the Liberia Petroleum Regulatory Authority (LPRA), working in collaboration with the National Oil Company of Liberia (NOCAL), has announced its intention to open 33 offshore blocks (LB-1 to LB-33) for Direct Negotiations. These blocks cover the Harper and Liberia basins within the offshore Liberia acreage.

Liberia - more news

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