On Saturday, October 25, 2025, STAND Chairman Mulbah K. Morlu, Jr., issued a statement denouncing the reported Production Sharing Contract (PSC) between the Boakai administration and Atlas-Oranto Petroleum.
The contract, reportedly signed through the Liberia Petroleum Regulatory Authority (LPRA), covers offshore oil blocks LB-15, LB-16, LB-22, and LB-24 with a value exceeding one billion U.S. dollars.
STAND says it’s investigation revealed that the deal was allegedly executed secretly without competitive bidding or public disclosure, violating several national and international laws.
“This deal is a brazen attack on Liberia’s sovereignty, a blatant abuse of public trust, and a deliberate handover of the nation’s natural wealth to a private few,” the statement declared.
The coalition accused the government of circumventing essential legal frameworks, including the Petroleum (Exploration and Production) Act of 2019, the Public Procurement and Concessions Act of 2010, and the Liberia Extractive Industries Transparency Initiative (LEITI) Act of 2009.
They also alleged that the agreement breaches Liberia’s international commitments under the United Nations Convention Against Corruption (UNCAC) and the Extractive Industries Transparency Initiative (EITI).
STAND condemned the contract as exploitation rather than genuine investment, calling the Boakai government’s actions a “mockery of Liberia’s commitment to good governance.”
They warned that the secretive deal erodes the rule of law and mortgages Liberia’s economic future for private interests.
The group also highlighted Oranto Petroleum’s controversial past in Liberia, noting that between 2004 and 2007, the company acquired oil blocks LB-11, LB-12, and LB-14 through questionable means and later sold them to Chevron for over US$200 million without any exploration drilling.
STAND accuses the new deal of continuing the pattern of corrupt speculation and profiteering that has deprived Liberia of real benefits from its natural resources.
Research by STAND indicates that Oranto Petroleum lacks the financial and technical capacity for deepwater exploration, which typically requires investments between US$80 million and US$200 million per well.
They allege the company aims to resell Liberia’s oil assets for profit, leaving the country exploited and empty-handed.
In conclusion, the coalition demanded that the National Legislature reject and immediately cancel the Atlas-Oranto Petroleum contract. They urged lawmakers to require all future oil deals to undergo transparent, open competitive bidding, and called for an independent investigation of all officials and entities involved in negotiating and approving the agreement.
