Former chief executive of the Iraqi Oil Ministry, Thamir al-Ghadban, said on 11 November that Iraq is planning to set up a new state oil company to run its oil sector. Al-Ghadban, who was recently appointed as adviser to Oil Minister Ibrahim Bahr al-Uloum, said this was because ‘the sector was more efficient when the Iraq National Oil Company ran it’. The state-owned oil company ran oil production in the country between 1964-1987, until the then president, Saddam Hussein, replaced it with specialised agencies under the control of the Oil Ministry (MEED 7:11:03).