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After seizing control of the Iraqi government, Qasim demanded better terms from IPC but decided against nationalization of Iraq's petroleum assets. [4] In 1961 Iraq passed Public Law 80 whereby Iraq expropriated 95% of IPC's concessions and the Iraq National Oil Company was created and empowered to develop the assets seized from IPC under Law ...
Iraq's economy is dominated by the oil sector, which as 2021, provides about 92% of foreign exchange earnings. [1] The lack of development in other sectors has resulted in 13% [ 2 ] unemployed as of 2017 per capita GDP of $7,000. [ 3 ]
Pages in category "Oil and gas companies of Iraq" The following 11 pages are in this category, out of 11 total. This list may not reflect recent changes. B.
After seizing control of the Iraqi government, Qasim demanded better terms from IPC but decided against nationalization of Iraq's petroleum assets. [2] In 1961 Iraq passed Public Law 80 whereby Iraq expropriated 95% of IPC's concessions and the Iraq National Oil Company was created and empowered to develop the assets seized from IPC under Law ...
The Iraq Petroleum Company (IPC), formerly known as the Turkish Petroleum Company (TPC), is an oil company that had a virtual monopoly on all oil exploration and production in Iraq between 1925 and 1961.
Basra Oil Company (BOC) (Arabic: شركة نفط البصرة), formerly Iraqi South Oil Company, [1] is a national Iraqi company responsible for the oil in the south of Iraq. It is situated in Basra. BOC is one of the major fundamental formations of the Iraq National Oil Company (INOC). It was the first nucleus and the basis of national direct ...
The Iraq National Oil Company (INOC) was founded in 1966 by the Iraqi government. [1] It was empowered to operate all aspects of the oil industry in Iraq except for refining which was already being run by the Oil Refineries Administration (1952) and local distribution which was also already under government control.
Pearl Petroleum gas fields in Iraq. Pearl Petroleum is one of the largest private investors in the oil and gas sector of the Kurdistan Region of Iraq (KRI), having invested around USD 1.76 billion from inception to December 2019. [10] It supplies the fuel to generate electricity to the major cities of the KRI.