On November 29, the Liberian Senate approved an oil storage investment agreement with Gboni Enterprises Incorporated, marking a new milestone in the country's oil storage sector.

It is understood that the content of the investment agreement includes the construction of an ultra-modern oil storage facility with a capacity of 25,000 tons in Liberia by the Geboni Group, and the investment is expected to reach 22 million US dollars. The implementation of this project will further enhance Liberia's oil storage capacity and contribute to the country's energy security.

The agreement was approved by the Liberian House of Representatives in September and subsequently submitted to the Senate for consideration by the House Joint Committee on Investment and Concessions, the Judiciary Committee and the Joint Committee on Fundraising, Finance and Development Planning. After careful consideration by the Senate, it is believed that the agreement will create more jobs for Liberia, ensure energy security, and promote continued economic growth.

Geboni Enterprises Group is an oil and gas import distribution company operating in Liberia for over 12 years with operations throughout the country. As a 100% owned Liberian company, Geboni Enterprises Group is committed to promoting the development of the Liberian oil and gas industry and continuously improving the efficiency and sustainability of its operations.

It is reported that the approval of the investment agreement is one of the important measures of the Liberian government to promote economic development. In recent years, the Liberian government has been working to attract foreign investment, promote economic growth and create jobs. The partnership with the Geboni Group will bring more investment and development opportunities to Liberia, while also enhancing the country's competitiveness in the global oil and gas market. Editor/Xu Shengpeng