Federal Court Decision Creates New Opportunities In Iraqi Oil | OilPrice.com

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Federal Court Decision Creates New Opportunities In Iraqi Oil | OilPrice.com
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Iraq’s Federal Supreme Court decision to invalidate the foundation of the Iraq National Oil Company has once again created opportunities for International Oil Companies

that permeates Iraq’s oil sector and there was every sign that this latest version would be the same.

The power of the INOC board of directors, though, could be extended further, he added at the time, as under the 2018 version of the law , revenues generated from the export and sale of oil and gas will be considered as financial revenues for INOC. “This is a flagrant violation of the Constitution, which states that oil and gas belong to the Iraqi people and not a financial return to one public company,” said Jiyad.

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