GOL Increases Petroleum Storage by 6.2 Million Gallons

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The management of the Liberia Petroleum Refining Company (LPRC) has commissioned two newly constructed fuel storage tanks at the company's facility in Monrovia. The commissioned tanks are part of the ongoing Product Storage Terminal Rehabilitation Project.  

The disclosure was made on yesterday, when the members of the Board of Directors were taken on a guided tour of the terminal. Managing Director, T. Nelson Williams, II said the management was happy about the progress and the commissioning of the two new tanks which will increase the company's capacity to maintain adequate supplies of petroleum products for the commerce of the country.

 "These new tanks increased LPRC's storage capacity from 12.3 to 18.5 million gallons of mixed petroleum products which will result in increased revenues and dividend to the government of Liberia,” he said and thanked President Ellen Johnson Sirleaf and the Board of Directors for the support they have given to the LPRC Management.

Mr. Williams listed previous achievements in the rehabilitation project including a modern product testing laboratory, Close Circuit TV Security System, a Biometric System, a fire water tank and four (4) petroleum tanks as part of the PST Expansion Project. The entire project is slated for completion in 2016."

  Speaking earlier the tour guide and Operations Manager of the company, Mr. Bobby Brown informed the Board that the piping and fabrication works on the new tanks were perfectly executed by a Liberian construction company, Green Coast Construction, far ahead of the completion scheduled of 45 days.  He lauded the Green Coast Managing Director, Henry Getto for the commitment demonstrated in implementing the project.

"Green Coast was vetted first among two foreign firms; their work has proven that Liberians can be far better if given the chance". Mr. Brown said.

Mr. Brown informed the board that the new diesel tank has a capacity of 3.3 million gallons of diesel fuel while the gasoline tank has a capacity of 2.9 million gallons. He further explained that the expected benefits to be derived as the result of placing the new tanks in service include the reduction in the overstay of vessels at the jetty (the jetty is where oil tankers dock to offload their oil cargo), which has normally resulted in the payment of high demurrage charges and an increase in the strategic reserve of all products for over 90 days.

It may be recalled that LPRC in the recent past launched the rehabilitation and modernization of its existing facility which has outlived its usefulness due to the long duration of the civil strife and the obsolete state of the old facility. LPRC tank farms were constructed in the 1950s and the location of company's facility was the scene of the fiercest battles between rival armed groups during the civil war.

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