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 […]
Tag Archives | Iraq National Oil Company (INOC)
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 […]
Tags: Basra Oil Company (BOC), Dhi Qar Oil Company (DQOC), featured, Iraq National Oil Company (INOC), Iraqi Drilling Company (IDC), Iraqi Oil Exploration Company, Iraqi Oil Tankers Company, Maysan Oil Company (MOC), Middle Oil Company, Midland Oil Company, Missan Oil Company (MOC), North Oil Company (NOC), State Oil Marketing Organization (SOMO)
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 […]
Direct Appeal to Federal Supreme Court against INOC Law
By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Immediately after the Iraqi parliament voted the new INOC Law and after thorough and critical examination and analysis of the law it becomes apparently clear that the law is full of shortcomings, […]
INOC Law: Dysfunctional, Unconstitutional and Disintegrative
By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The Parliament voted in its session No. 14 of March 5, 2018 on a law reinstating the Iraqi National Oil Company-INOC. Briefly, the law passed hastily at a critical pre-election time with […]
Parliament Votes to create Iraqi National Oil Company
By John Lee. Reuters reports that Iraq’s parliament voted on Monday 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. According to the report, the move revives a company originally established in the 1960s and merged into the […]
For Effective and Relevant Law for Iraq National Oil Company (INOC)
By Tariq Shafiq and Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Abstract: This paper (in Arabic only) addresses the currently proposed INOC Law, which was subjected to first reading by the Parliament; provides critical assessment and proposes specific provisions to […]
The New INOC Law: Brief and Dysfunctional
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The New INOC Law: Brief and Dysfunctional The Cabinet approved, on 23 March 2017, the new law for the Iraqi National Oil Company (INOC) and passed it to the Parliament/House of Representatives […]
Ministry of Oil working to Reestablish National Oil Company
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 […]