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Behind the Oil Blocks: Who’s Profiting from the Legal Lapses?

  • Writer: Michael T
    Michael T
  • 2 days ago
  • 4 min read
L-R, Joseph Boakai Jr, Christopher Neyor, Arthur Eze, Walter S Mccarty and Logos of Chevron, Total, EXXON
L-R: Joseph Boakai Jr., Christopher Neyor, Arthur Eze, Walter McCarty — accompanied by the logos of Chevron, TotalEnergies, and ExxonMobil

Over 56 years later, Liberia’s oil dreams are still stuck in a vicious loop. Since its first oil exploration in 1969, Liberia remains trapped in a cycle of unfulfilled potential. There have been deals, data sales, and flashy announcements, but little to no lasting national benefit. No commercial production. No real transformation. Just a carousel of maneuvering, secrecy, and exploitation by those entrusted with the sector. What was meant to empower the nation has mostly enriched a few.


Amid these scorching realities, President Joseph Boakai’s government has awarded 100 percent ownership of four offshore oil blocks—LB-10, LB-11, LB-29, and LB-31—to the National Oil Company of Liberia (NOCAL) without legislative approval or stakeholder consultation1234. The move has revived memories of past scandals and triggered new questions about transparency, legality, and the possible resurgence of controversial oil magnate Prince Arthur Eze.


Under Liberia’s Amended Petroleum Law of 2019, the allocation of petroleum blocks is supposed to be a tightly regulated process: partners must be pre-qualified by the Liberia Petroleum Regulatory Authority (LPRA), competitive bidding is the default, and all deals require legislative ratification126. This time, the Executive sidestepped these safeguards. President Boakai has justified the decision as a way to “simplify processes for investors,” arguing that legislative delays deter potential partners26. NOCAL, in turn, has called the allocation a “transformative step” for Liberia’s energy sector, promising maximum financial returns, thousands of jobs, and enhanced national energy security1234. The company claims that, by maintaining full control, Liberia will benefit directly from future revenues through development projects and social programs1234.


However, critics—including industry experts and economists—have called the announcement “premature and disruptive,” warning that NOCAL lacks the technical and financial muscle to operate the blocks and is likely to flip them to outside interests, as has happened before26. A credible source sector expert confided in our investigation that “NOCAL should submit a list of companies to LPRA for pre-qualification. This is because NOCAL does not have the financial and technical capacity to drill or operate an oil block and will flip the block to another company.” For example, companies like Chevron, ExxonMobil, and Total have reportedly been involved in behind-the-scenes discussions with individuals close to the president. The expert further argued that Liberia needs partners with real drilling capacity, not “middleman” companies that simply hold blocks while seeking deals to flip26.


In another layer of this controversy steps Prince Arthur Eze, the Nigerian oil tycoon whose name is synonymous in Liberia with backroom deals and windfall profits. After Liberia’s civil war, Eze paid a pittance—reportedly just $200,000 in fees—for three offshore blocks, only to sell them to Chevron for $250 million, pocketing a staggering $200 million profit. Watchdog group Global Witness and others allege that these deals were greased by bribes to Liberian legislators, exploiting a country desperate for investment and vulnerable to exploitation. Eze’s business model—acquire blocks cheaply, sell high, and invest little in local development—has drawn criticism across Africa. In Liberia, he reportedly still owes nearly $20 million in capital gains tax, and in Senegal, his recent attempts to secure new oil assets were rebuffed by the new government, wary of his record.


Now, fourteen years after his last big score, Eze is back—this time eyeing blocks 15, 16, 22, and 24, even as ExxonMobil has also applied for prequalification on the same assets. His return has been orchestrated, sources say, by three close associates of President Boakai: Joseph Boakai Jr. (Joejoe), the president’s son; Walter S. McCarty; Jacob Kabakollie, the president’s nephew and former NOCAL head; and Dr. Christopher Neyor, another NOCAL veteran. The group recently facilitated Eze’s high-level meetings in Monrovia, including a private audience with the President.


While some sources close to the Presidency claim Boakai is wary of Eze’s reputation and has so far resisted pressure to cut side deals, the optics of such meetings during an active bid round have set off alarm bells. “Despite the ongoing bid, an interested party was granted an audience with the President. This raises concerns about conflict of interest and potential undue influence on the process,” one source told local media.


Industry experts warn that these procedural breaches and the specter of backdoor deals could have dire consequences. “Liberia’s credibility as an emerging player in the hydrocarbon sector depends on strict adherence to the law, transparency, and consistent disclosure to the public,” one analyst said267. Already, the lack of transparency is deterring reputable investors and raising the risk of legal challenges and international sanctions.


Stakeholders are now demanding that the government reverse the allocations, recommit to a competitive, transparent process, and ensure all actions comply with the law. Anything less, they warn, could see Liberia repeat the mistakes of the past—and lose out on the transformative potential of its natural resources.

As the world watches, Liberia’s leaders face a stark choice: uphold the rule of law and the promise of reform, or allow history—and its ghosts—to repeat.




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Additional Sources


[2] Liberia: Boakai Grants Ownership of Strategic Oil Blocks to Nocal https://allafrica.com/stories/202506110199.html

[6] Liberia: Nocal VP Defends Oil Blocks Acquisition - allAfrica.com https://allafrica.com/stories/202506120223.html

[9] President Boakai Gives NOCAL Ownership to Four Strategic Oil Blocks https://knewsonline.com/President-Boakai-Gives-NOCAL-Ownership-to-Four-Strategic-Oil-Blocks

[10] NOCAL Gets Ownership of Strategic Oil Blocks-Boosting National ... https://analystliberiaonline.com/nocal-gets-ownership-of-strategic-oil-blocks-boosting-national-development/

[13] National Oil Palm Strategy and Action Plan of Liberia (2021-2025) https://www.undp.org/foodsystems/publications/national-oil-palm-strategy-and-action-plan-liberia-2021-2025


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