Tag Archives | Iraq National Oil Company (INOC)

INOC to be Partner in TotalEnergies Basra Projects

By John Lee. The Iraqi cabinet has approved a plan for the newly-formed Iraqi National Oil Company (INOC) to be a financial partner with TotalEnergies in its projects in Basra. It said it will support INOC to "maximize revenues and financial returns to the general budget." In September, TotalEnergies signed a number of major agreements […]

Sonangol meets with INOC to discuss Production at Qayara

By John Lee. The President of the Iraqi National Oil Company (INOC), Oil Minister Ihsan Abdul-Jabbar Ismail, has chaired a meeting with the CEO and management of Angola's Sonangol, the main operator of the Qayara [Qayyarah] oil field in Nineveh Governorate. Also joining the meeting was the management of the North Oil Company (NOC) and […]

Iraqi National Oil Company (INOC) holds First Meeting

By John Lee. The recently-created Iraqi National Oil Company (INOC) has held its first meeting in Baghdad. Among the items discussed were the five-year plan for the oil exploration sector, and what were described as "interim and future production and export plans", in coordination with the State Oil Marketing Organization (SOMO). (Source: Ministry of Oil)

Iraqi Oil Minister to head INOC

By John Lee. Iraq's Oil Minister, Ihsan Ismaael [Ahsan Abdul-Jabbar Ismail], will reportedly become the head of a recently-revived Iraq National Oil Company (INOC). Mr Ismael was previously the director general of the state-run Basra Oil Company (BOC); he joined the cabinet of Prime Minister Mustafa Al Kadhimi in June. More here. (Source: The National)

Detailed Assessment of INOC Law First Amendment

By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The following is an executive summary of my detailed assessment of the INOC Law First Amendment, currently debated by the Council of Ministers: The verdict by the Federal High Court-FHC regarding the […]

Oil Ministry Pauses Transfer of Oil Cos to INOC

By John Lee. Iraq's Ministry of Oil has postponed a decision to transfer ownership of nine state-owned oil companies from the Ministry to the newly-formed Iraqi National Oil Company (INOC). The original decision was announced on Thursday, but it has now been held following complaints that the decision should be made by the incoming goverment […]

INOC takes over 9 State Oil Companies

By John Lee. 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 […]

Luiebi named Head of new National Oil Company

Iraq's Cabinet has named Jabbar al-Luiebi, the current oil minister, to head the new Iraqi National Oil Company (INOC) - giving new momentum to a fundamental restructuring of the country's oil sector. "Yes, he is the president of the Iraqi National Oil Company," said Oil Ministry Spokesperson Assem Jihad, in an interview with Iraq Oil […]

Lawsuit Imperils Formation of Iraq National Oil Company

A coalition of Iraqi oil technocrats has filed a legal challenge against a law to re-establish the Iraq National Oil Company (INOC), which is likely to delay - if not derail - a major restructuring of the country's oil sector. Under the law, which took effect in April, the government has a six-month window to […]

Iraq "puts Oil Company Plans on Hold"

By John Lee. Baghdad has reportely postponed plans to create a new national oil company until a new government is formed. In March, Iraq’s parliament voted to establish a new Iraqi National Oil Company (INOC) to manage its upstream energy sector, and serve as an umbrella body for its state-owned oil firms. More here from […]

The Dangers of Iraq’s New Oil Law

By John Lee. The formation of the new Iraq National Oil Company (INOC) is "a power grab that could undermine all the progress," according to Nick Butler. Writing in the Financial Times, he says the new company will be a single entity with sole responsibility for all aspects of the development of the oil and […]