Lawsuit imperils formation of Iraq National Oil Company
A major restructuring of Iraq’s oil sector appears to be delayed — and could possibly be derailed — by a legal challenge.
Parliament Speaker Salim Jabouri (center) presides over a legislative session. (Source: Council of Representatives)
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 set up the new state company, which is supposed to take over many of the Oil Ministry's most important powers in managing Iraq's oil and gas resources.
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