Iraqi Oil Minister Jabar al-Luaibi has issued a decree transferring the ownership of nine state-owned oil companies, including state oil marketer SOMO, from the oil ministry to the newly-formed National Oil Company which he also heads, a ministry spokesman said on Thursday. Luaibi took the decision in his capacity as National Oil Company chief, not minister, according to a statement by spokesman Asim Jihad. The decision will be “followed by others within the same framework,” Jihad said. The Iraqi government had last week named Luaibi as head of the new National Oil Company, which is to serve as an umbrella organization for state oil firms. The positions of company chief and minister are not related, but Luaibi currently holds both. Parliament voted in […]