UPDATE: Cabinet authorized Ismaael to lead national oil company
Advisors close to Prime Minister Kadhimi are elevated to top executive positions over economic and security issues.
Following publication of this story on Sept. 14, Iraq Oil Report obtained an Aug. 18 note from the Secretary General of the Council of Ministers that explained the Aug. 17 Cabinet decision: to amend the INOC law; to create the INOC governing board and advisory board and conduct a valuation of all companies to be moved from the Oil Ministry to INOC authority; and “to task the Oil Minister Ihsan Abduljabbar Ismaael to perform the tasks of INOC director in addition to [being Oil Minister], to start the formation of the board to ensure the implementation … and to start its tasks and responsibilities according to the law.”
As one senior government official close to Cabinet processes explained: “Ihsan is made head of this so he can manage this process.”
ERBIL/BAGHDAD - Ten advisors or allies to Iraqi Prime Minister Mustafa al-Kadhimi have been named to run crucial banking and security institutions in a move that consolidates strategic authority as Kadhimi attempts to tackle a financial crisis and escalation of nationwide violence.
In addition to new leaders of the Central Bank of Iraq, Trade Bank of Iraq, and executive branch institutions that report to Kadhimi, Oil Minister Ihsan Ismaael has been named the presumptive head of the Iraqi National Oil Company (INOC), which has not yet been formed as negotiations over the legislation for the company continue.
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