The National Oil Company of Liberia or NOCAL has denied recent newspaper stories insinuating allegations of impropriety and disharmony at the level of the entity’s leadership.
In a release dated January 14, 2015, NOCAL’s management clarified that it was aware of its statutory and fiduciary responsibilities in respect of providing the necessary, effective and transparent leadership in the management of the hydrocarbon sector of the country.
In this regard, NOCAL assures all concerned that contrary to allegations and insinuations in some local newspapers, its current management and leadership was doing all it could to foster transparency and accountability in the operations of the sector consistent with its corporate core values and principles.
NOCAL says management will continue to ensure that its transactional dealings with all stakeholders, including international oil companies, will be based on transparency and accountability, and will be carried out in the best interest of the government and people of Liberia.
Regarding perceived disharmony at the Board level, NOCAL management said there is no cleavage between Board and Management at the entity, and that all are working collegially and collectively to promote the interest of the sector as it enters a new phase in the ongoing sector reform, including the pending restructuring of the entity or sector under the New Petroleum and NOCAL Acts.