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Luiebi named head of new national oil company

Cabinet names sitting oil minister as INOC president in special decision, Oil Ministry spokesperson says.
Iraqi Oil Minister Jabbar Ali al-Luiebi at the Nov. 30, 2016 OPEC meeting in Vienna. (Source: OPEC Media Office)

ISTANBUL - 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 Report on the sidelines of the CWC Basra Mega Projects conference in Istanbul. "The company will be in charge of Basra Oil Company, North Oil Company, all of it - more than the ministry."

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