This is the goal of the national oil company.

2017-03-23 12:02

Baghdad scales news

Oil Ministry spokesman Assem Jihad, the Ministry follow modern mechanisms for the development and exploitation of oil wealth and attempted to go to the national oil company is an example of that.

Jihad said in an interview for the balance of the news/, "the Ministry has prepared a Bill to establish the national oil company to add to the filter and gas company drafts these companies managed by credible Board with administrative and financial autonomy and flexibility."

"Jihad," the goal of the national oil company is optimal for oil wealth and expand their business and projects within and outside the country to achieve financial revenues using the mechanisms and techniques and modern standards and quite sophisticated.

He noted that the company would be akin to the evolving international global companies and national oil industry development arm in accordance with the latest methods and technologies used globally without the oil Ministry's intervention with the exception of planning and oversight.

Turning to the "national firms often receive new global reputation as little packet of possibilities add to the flexibility possessed so that such companies be free from major constraints if not merged with the Ministry of oil."

He noted that "the Iraqi national oil police long had at its founding in 1986, the defunct system freezing work and joined the Ministry of oil we have today a draft towards reestablished."

It should be noted that the Iraqi oil company was founded in 1961, in Iraq the law 80 whereby Iraq by 95% of the Iraq petroleum company, announced the formation of the Iraqi national oil company in 1964.

In April of 1987, incorporating oil Minister Issam Chalabi company with the Ministry of oil, which become direct operator in industry as well as an entrepreneur.Either at the operational level, the company was split into groups of regional companies, including NOC, based in Kirkuk, SOC based in Basra and oil Center.The Cabinet voted at its 14 March on the Iraqi national oil company Bill and referred it to the House.