LPRC - 150 Day Deliverables
Managing Director T. Nelson Williams with ISPS team as they inspect the PST Facility
I am pleased to report on the 150 day deliverables set by the Liberia Petroleum Refining Company (LPRC) in alignment with goals set by Her Excellency Ellen Johnson Sirleaf.
FINANCIAL MANAGEMENT
LPRC currently has a net income of US$3.5 million for 2012 YTD. This represents a 40% increase over the budgeted amount of 2.5 million. Gross Revenue for the period under review was US$8.9 million. This also represents a 7% increase over the budgeted amount of US$8.3 million.
In March, 2012, we paid USD$1,959,677 to the government in income taxes. In June 2012 US$750,000 was paid for dividend and a 2% presumptive tax of US$89,935 was paid in April, 2012.
OPERATIONAL EXCELLENCE/INFRASTRUCTURE
We have ensured petroleum product sufficiency on the Liberian market by supplying the entire country on a daily basis by holding each petroleum Importer accountable for meeting importation targets. During the last 150 days a total of 49,767,463 gallons of mixed products was imported into the country. This is a 6 percent increase in the importation schedule compared to this time 2011.
During the period under review Mother-well Bridge Limited (MBL) and its sub-contractor (West Construction) began the construction phase of the rehabilitation and expansion project at the LPRC Product Storage Terminal. MBL has commenced the construction of the new petroleum laboratory, Fire Water Tank, piping network from the tank to the pump house. This phase of the project is slated to be completed by December, 2012.
LPRC Technical Team installed a new jetty walkway from the Product Storage Terminal to the Dolphin. The team also installed replacement pipelines on the jetty extending to the 90 degree.
Green Coast Construction supervised by LPRC’s Technical Director fabricated and installed two (2) fuel tanks at the Jackson F. Doe Memorial Hospital in Tappita, Nimba County. Each tank has the capacity of 7,000 gallons.
Product Delivery
A tracking software was installed with priority access to monitor the movement of petroleum product. This resulted in accurate reporting and also reduced over time by 30%.
LPRC approved the importation license and the construction of four (4) new filling stations for National Petroleum (Liberia) Limited. All four stations were completed and dedicated in April, 2012 by Her Excellency Ellen Johnson Sirleaf and His Excellency Ernest Bai Koroma, President of the Republic of Sierra Leone.
Aminata upgraded two stations to international standards.
For the second time in a role, LPRC security team passed the U.S. Coast Guard International Ship Port Security (ISPS) inspection. LPRC was informed that significant improvements were made in the areas of plant protection, loss prevention, internal controls and safety, health and environment.
ADMINISTRATIVE ACHIEVEMENTS & STAFF DEVELOPMENT
During the last 150 days 17 employees including managers attended a workshop for controlling cost and budget preparation and management.
A Performance Evaluation System was put in place to evaluate each employee quarterly based on efficiency, effective time management, communication skills, work ethics etc.
An annual general medical examination program for all employees was also organized and implemented.
The company also added a health and Environment component to the Safety Section. It is now Safety, Health and Environment Section (SHE).
Three Employees were sent to South Africa for training in Managing the training function, presentation skills and Certified information system security.
We have an Educational Assistance Scheme (EAS) program. We currently have 20 employees who are enrolled in both undergraduate and graduate programs. Recently, 15 of these employees graduated from various institutions.
COMMUNTY OUTREACH & CORPORATE SOCIAL RESPONSIBILITY
In line with our social responsibility program we have managed to contribute immensely to needed institutions via our charity program where charitable gifts were presented to schools, orphanages, hospitals and clinics and through sponsorship to community projects.
Additionally, we have scholarship foundation that is been managed by a committee headed by Sister Mary Lauren Brown, the president for Stella Marie Polytechnic. The 3rd phase of the program ended June with 884 students who have been on the program for three years. Recruitment is in process for 1000 students. This program also focuses on teacher training from AA to BSc.
Sports
In June 2011 the Basketball team won the Liberia Basketball Association (LBA) championship, and recently, in June 2012 won the LBA championship again.
RECONCILIATION, YOUTH EMPOWERMENT, NATIONAL VISIONING
- Employed 31 Cadets
- Employed 15 Internship Students (10 Technical/2Financial & 3 Administrative)
- Hired 25 vacation students
- 150 Contractors
- Replaced 6 retirees
View Photos from LPRC
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