Iraq appointed veteran oil executive Hameed al-Saedi to head its state-run North Oil Company on Monday, a spokesman for the Iraq Oil Ministry said.

Saedi replaces Manaa Abdullah al-Ubaidi, who is retiring after a long career as general manager of the company just as Iraq tries to finalise contracts with foreign oil firms that would vault Iraq into the top ranks of global oil producers.

Oil Minister Hussain al-Shahristani also ordered the replacement of three other top managers of the company, whose productive fields include supergiant Kirkuk north of Baghdad.-Reuters