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Iraqi Oil Minister Jabar al-Luaibi has reversed his decision to transfer the ownership of nine state-owned oil companies from the ministry to the newly formed National Oil Company, the ministry said Saturday.He later told state TV in an interview Saturday Iraq hopes to produce 7 million barrels of oil a day through the National Oil Company and to export 4 million bpd in 2019 . Luaibi had issued a decree Thursday transferring ownership of the nine state-owned oil companies, including state oil marketer SOMO, to the National Oil Company.
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