Newly appointed Luaibi is former head of the state-owned South Oil Co.
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Jabbar al-Luaibi, the former head of Iraq's biggest crude producer who was appointed oil minister Monday, said that he sees ways to resolve the energy dispute with the self-governed Kurds in the north of OPEC's No. 2 producer.More than 13 years after the U.S.-led invasion that ousted former President Saddam Hussein, Iraq's finances are being drained by the oil-price plunge and political bickering that has delayed efforts to tackle graft and sectarian divisions. Iraq, the second-biggest producer in the Organization of Petroleum Exporting Countries, holds the world's fifth-largest oil reserves. The drop in crude prices over the past two years has squeezed state revenue as the government waged a costly campaign against Daesh militants who have seized parts of northern Iraq.
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