Iraq: Oil investment fund mooted as Ishmael takes over ministry

Issue 1106 - 03 Jul 2020

The government of Prime Minister Mustafa Al-Kadhimi is considering setting up a new investment fund to manage oil revenues and provide some financial security for future generations. The premier mentioned the idea during a mid-June visit to the Ministry of Oil, where he held talks with recently installed oil minister Ihsan Abdul-Jabbar Ishmael and senior officials. Ishmael, who had been director-general of the state-owned Basra Oil Company (BOC), was approved by the Council of Representatives (parliament) on 6 June, along with nominees for the six other vacant posts in Kadhimi’s cabinet.

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