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Iraq to establish National Oil Company for energy sector
(MENAFN) Iraq is reportedly expecting a new National Oil Company to be set up after parliament voted in favor of the plan, aiming for it to run the energy sector.
The Oil Ministry is to put the law into effect through taking essential moves, Minister Jabar al-Luaibi noted as he hailed the resolution of parliament as "historic".
Husham al-Suhail, one of parliament's members, stressed "it's a significant law to push forward the development process of Iraq's energy sector."
Oil analyst al-Jawahiri explained "the job of the new company is to manage Iraq's upstream operations. This will leave the ministry room to set plans and strategies for the development of the Iraqi energy sector."
The Oil Ministry is to put the law into effect through taking essential moves, Minister Jabar al-Luaibi noted as he hailed the resolution of parliament as "historic".
Husham al-Suhail, one of parliament's members, stressed "it's a significant law to push forward the development process of Iraq's energy sector."
Oil analyst al-Jawahiri explained "the job of the new company is to manage Iraq's upstream operations. This will leave the ministry room to set plans and strategies for the development of the Iraqi energy sector."
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