Iraq oil minister is head of new NOC

Iraq’s government has named Oil Minister Jabar Al Luaibi as head of a new National Oil Company (NOC) which will serve as an umbrella organisation for state oil firms, an oil ministry spokesman said on Thursday. Parliament voted in March to establish the company, which is meant to manage Iraq’s upstream operations, freeing up the ministry to set plans and strategies for developing the sector. The decision was voted on unanimously in cabinet last week, spokesman Asim Jihad said. The positions of oil minister and National Oil Company chief are not related, he added.