Oil Ministry Pauses Transfer of Oil Cos to INOC

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 of Adil Abdul-Mahdi.

(Sources: Ministry of Oil, Reuters)