Iraq completes NOC rebranding
Iraq 
BAGHDAD, April 6, 2017 – Iraq’s largest NOC, South Oil Company (SOC), has completed its rebranding efforts, local media reported on Wednesday. Its name has now officially changed to Basra Oil Company.
The rebranding was formally announced on January 5, 2016, and coincided with the establishment of a fifth national oil company: Dhi-Qar Oil Company (DQOC).
DQOC was set up with aim of managing the increased output from the like-named province and officially commenced operations earlier this week. A spin off of SOC, DQOC will administer the Garraf, Nasiriya, Subbah and Abu Amood oilfields.
SOC was founded in 1969 and up until this week managed around 80% of Iraq’s crude oil reserves and close to 65% of its gas reserves. SOCs share in the country’s production stood at about 80%.
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