Liberia Supreme Court hears SRIMEX-LPRC fuel pricing dispute
The court will decide if an arbitration clause in a petroleum storage agreement overrides government fuel price changes.
The Supreme Court of Liberia is hearing a dispute between SRIMEX Oil & Gas Company and the Liberia Petroleum Refining Company (LPRC) over an arbitration clause in a petroleum storage agreement and the government's power to change fuel prices. SRIMEX, led by CEO Musa Hassan Bility, is asking the court to review how the Commercial Court handled its request to force arbitration. The company argues a presidential directive changing fuel prices violates their contract terms.
The case began after SRIMEX and LPRC signed a Petroleum Storage Agreement on September 3, 2025. Less than a month later, the President's office issued a directive that SRIMEX claims altered the agreement's commercial and tariff arrangements. SRIMEX filed a petition on September 29, 2025, seeking to compel LPRC to arbitrate the dispute and requesting an injunction against the new pricing formula.
SRIMEX's lawyers argue that the agreement's arbitration clause should be enforced, even if the dispute arises from later government actions. They warn that implementing the new prices before arbitration could cause irreparable financial harm and damage investor confidence. The Commercial Court had previously issued a temporary order to maintain the status quo and held a pretrial conference on October 21, 2025.
Why it mattersThe Supreme Court's decision will affect contractual rights and state regulatory powers in Liberia.