Iraq’s Federal Supreme Court (FSC) has invalidated the decision of Iraq’s government to establish the Iraqi National Oil Company (INOC) on the basis that several of its founding clauses are in breach of the constitution, according to local news sources. Previous iterations of INOC have been focal points for the corruption that permeates Iraq’s oil sector and there was every sign that this latest version would be the same. In cancelling this toxic idea, the FSC has reopened the way for new investment from international oil companies…
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