MONROVIA December 4 (LINA) - Deputy House Speaker Hans Barchue has reaffirmed the National Legislature’s commitment to reform the oil and gas sectors of Liberia to ensure every Liberian benefits from the potential hydrocarbon deposits.

He told the Ministry of Information regular press briefing Thursday that in February of 2012, the Plenary of the House, acting upon a report of a House Joint Committee, endorsed a number of recommendations which required the Legislature to take the lead in reforming the Hydrocarbon Sector.

He named the committees as Ways, Means and Finance, Lands Mines and Natural Resources, State Enterprises, Public Account and Expenditure as well as Judiciary, according to the Liberia News Agency.

In response to questions, Deputy Speaker Barchue said the House leadership named a 22-man special committee to review the Act which created the National Oil Company of Liberia (NACOL) in 2000 and to advise Plenary on the enactment of the Comprehensive National Content Law.

Barchue further noted that the recommendations also require the House leadership to thoroughly review the 2002 Petroleum Laws of Liberia, taking into consideration the international best practices alongside Liberia’s context and ensure that the end is contemporary, especially with regards to enhancing local content.

Barchue then emphasized that members of the committee and a number of senators undertook study tours to Ghana, Nigeria, Cote d’Ivoire, Norway and Brazil in December of 2012 to learn about the various methodologies used by these countries to manage the oil wealth in order to reform the Liberian oil process.
LINA