US seeks Iraqi oil chief executive

Washington is seeking an Iraqi chief executive officer (CEO) to head a multinational board of up to 16 to kickstart post-war …

Washington is seeking an Iraqi chief executive officer (CEO) to head a multinational board of up to 16 to kickstart post-war Iraqi oil operations, industry sources said on Saturday.

The structure for initial governance of Iraqi oil is now taking shape after weeks of uncertainty, the sources said.

"Washington wants to get moving on oil," said one industry expert familiar with the plans. "And they are determined to place an Iraqi as CEO of oil."

"The majority will definitely be Iraqis," said another. The group will oversee all operations at Iraq's oil ministry, from the rehabilitation of production facilities, to export contracts and refining for domestic fuel needs.

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The make up of the board should alleviate fears that US nationals might dominate although Mr Phillip Carroll, the former head of Royal Dutch/Shell in the US, is earmarked for what would be effectively a chairman's role.

The identity of the CEO is not yet known but expatriate Iraqi oil official Mr Muhammed-Ali Zainy is taking a position, probably alongside another seven Iraqis - including three other exiles and four officials from the government of Saddam Hussein.

Inclusion of existing officials appears designed to meet the approval of the 55,000 oil workers who must be mobilised to get Baghdad's only significant export revenues flowing again.

"The Iraqi part of the team is already complete," said an oil industry executive.

"Their job is to reactivate the ministry of oil and its attached companies and bring them to a functional level." Joining Mr Carroll, another four to six Americans and non-US nationals in total will make up the remainder of the team, although their identities also are not known yet.