Leaked documents in the possession of this paper seems to suggest that a deadly plot to destroy Musa Hassan Bility’s SRIMEX Oil and Gas company is ongoing across the social media as well as other media institutions.
Our investigation uncovered that competitors and some key players in the petroleum sector of the country, have concocted a conspiracy to take Musa Bility business and political life down the gutter. Information gathered revealed that reasons behind the campaign which is massively fussed by lies, paid for articles and malicious reports are still being uncovered; but our investigation has unearthed that Bility is a victim of corporate politics.
The investigation also finds that, Bility’s new political alignment with Liberty Party (LP) as head of campaign could be some of the reasons behind the smear campaign against Liberia’s single largest petroleum importer.
In 2011 Bility was appointed by the National Executive Committee (NEC) of the governing Unity Party as campaign Chairman for Montserrado County. His financial contribution to the party’s activities at the time played a key role in helping his former political party win the 2011 polls. Our investigation finds that Bility’s absence from the governing party’s THINK TANK team is a great blow to the party in terms of strategy and financial support.
Reports further suggest, that party stalwarts of the governing party are going all out to cause some injury for the man who once propelled their bid to win the 2011 elections.
In a series of unsubstantiated claims made against Bility, his accusers have contended that he owes all of Liberia’s major banks and has had bad business deals with international suppliers of petroleum products.
Ironically, our independent investigation with international suppliers of SRIMEX Oil and Gas Company is revealing that Bility still enjoys a favorable position with his international counterparts and suppliers.
Following investigation by this paper, coupled with document in its possession it has been revealed that SRIMEX is the only privately owned Liberian business with more than $50 Million in asset and market capital. In December 2016, the Liberian Petroleum giant completed a farm storage tank valued at over $32 million United States Dollars which is expected to dedicated anytime this year.
According to investigation, there are chains of foreign competitors and other business owners who are gartering over SRIMEX’s fast business expansion, and have started to spread falsehood on social media and other news networks; making unsubstantiated claims and wild cat allegations against the company.
Investigation conducted by this paper further uncovered a political syndicate to lunch a bigger smear campaign on the reputation of the Chief Executive Officer (CEO) of SRIMEX Oil and Gas, Mr. Musa Hassan Bility. During our investigation of some of the allegations made against Mr. Bility and SRIMEX for instance, about bank loans to expand and finance his business are true. It is however, disheartening to note that competitors are insinuating and spreading falsehoods that SRIMEX is not in good standing with commercial banks like, Ecobank, Global and GT Banks. To date, according to bank authorities at the three banks, SRIMEX is one of Liberia’s most credible businesses, which is even now qualified under the Central Bank regulation to acquire loans.
For instance Errol Bryant, head of credit at Global Bank confirmed to this paper that Global Bank has just issued a letter of credit to SRIMEX – which allows and qualifies the company to get loans at anytime.
In an email exchange with Eco Fuel head of marketing in Geneva, Mr. Patrick Aubert who is one of SRIMEX’s principal suppliers, said, “the Liberian oil company is in good standing with Eco Fuel and that a consignment of mix petroleum products were coming to the country in three separate shipments within the next few days.”
Insiders at Central Bank speaking to this paper on conditions of anonymity said, SRIMEX Oil and Gas does not have any outstanding liability with any other commercial Bank except Ecobank, which is currently being service at $100,000 per month.
SRIMEX in Liberia’s petroleum industry
Liberia’s oil and gas industry have seen a volta-face over the last ten years. The prices of petroleum products across the world have shifted down and upward. But most of these shifts downward in many aspects have led to businesses closing down, laying off employees and in some cases filing in bankruptcy among others.
For instance in June 2016 Oil Price. Com which is the world’s #1 Oil and gas information center reported that more than 350,000 oil workers lost their jobs world wild because of the decline in the price of one of the world’s number one commodity.
By 2013 in Liberia, companies like ExxonMobil, Chevron, Africa Petroleum and others that were starting deep shores exploration of oil along the Liberian waters had packed their bags and said goodbye to their operations in Liberia.
However, in the midst of the odds- the global nose dive in the price of oil and other petroleum products, a Liberian owned and operated private oil company is doing everything to keep afloat. Over the last ten years, SRIMEX Oil and Gas has kept its workforce, built new infrastructure and expanded new business opportunities for other Liberian businesses.
SRIMEX was formed as a General Trading Company in 2003. It started importing commodities such as cement, IT and electrical equipment, cooking oil and milk powder. In 2005 SRIMEX was granted a license to import petroleum products into Liberia and this license extends to the distribution, commercial retail, bunkering as well as oil exploration. The petroleum import business soon eclipsed other activities and in 2011 SRIMEX Oil and Gas was formed to focus solely on the import and distribution of this product. SRIMEX Oil and Gas is 100% owner operated by Mr. Musa Bility and he is the ultimate beneficiary of the company.
SRIMEX Oil and Gas has grown from an importer of modest quantities of PMS into a company that needs to make use of credit lines to increase and then sustain its market share.