Monrovia, May 21 -- The Liberia Petroleum Regulatory Authority (LPRA) has moved to clarify Liberia's petroleum licensing framework following growing questions from oil companies and stakeholders regarding the role of the National Oil Company of Liberia (NOCAL) in upstream petroleum operations.

In a statement issued Wednesday, the LPRA reaffirmed that under the Petroleum (Exploration and Production) Act of 2014, as amended, the Authority remains the legally mandated institution responsible for administering petroleum rights, negotiating agreements, and overseeing licensing processes in Liberia's oil and gas sector.

According to the regulator, Section 4.1 of the Petroleum Act stipulates that the right to explore for, produce, and transpor...