By John Lee.
Iraqi oil minister Jabar Ali al-Luaibi [Allibi] has confirmed that the Ministry of Oil is working to reestablish the Iraqi National Oil Company (INOC), following ratification by the cabinet of the draft resolution to reestablish the company.
The original INOC was founded in the 1960s, but was incorporated into the Ministry of Oil in 1986.
The ministry is also working to establish a national gas company and national refineries company.
(Source: Ministry of Oil)