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INOC Takes Over 9 State Oil Companies

Oil Minister Jabar Ali al-Luaibi (Allibi, Luiebi) has transferred ownership of nine state-owned oil companies from the Ministry of Oil to the newly-created Iraqi National Oil Company (INOC).

 

The Minister is also the President of INOC. The companies transferred to INOC ownership are:

Iraqi Oil Exploration Company

Iraqi Drilling Company (IDC)

State Oil Marketing Organization (SOMO)

North Oil Company (NOC)

Midland (Middle) Oil Company

Basra Oil Company (BOC)

Dhi Qar Oil Company (DQOC)

Missan Oil Company (MCO)

Iraqi Oil Tankers Company (IOTC)

IBN Expert Blogger Ahmed Mousa Jiyad has described the new company as “dysfunctional, unconstitutional and disintegrative“.

 

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