From All Africa

The National Oil Company of Liberia (NOCAL) has reminded the Liberian people that Liberia is not generating oil revenue as the country is yet to discover oil in commercial quantity.

NOCAL indicated that all revenues generated from fees and contributions in the sector will be reported in compliance with request of the Liberia Extractive Industries Transparency Initiatives (LEITI) and in compliance with the company’s core value of transparency and accountability.

In a release issued at the weekend, the oil company said in compliance with its core value of transparency it has released its annual budget for fiscal year 2013/2014.

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