Council of Ministers agrees to establish oil company

BAGHDAD / IraqiNews.com: The Council of Ministers agreed on Tuesday on the proposal presented by the Oil Ministry to establish the Central Oil Company (COC) with a capital of 100 billion Iraqi dinars, according to the government’s spokesman. “The Council of Ministers agreed during its 15th session to set up the Central Oil Company in accordance with the Article III of the public companies law number 22 of 1997,” Ali al-Dabbagh said in a statement received by IraqiNews.com news agency. SH (P) 2