The Iraqi Cabinet has approved an oil revenue sharing plan that would divide profits among the provinces based on population, and allow foreign oil companies unprecedented access to Iraq’s reserves.

Distributing the wealth of Iraq’s natural resources has been a major political obstacle, as most of the nation’s current oil fields are in Shiite territory.


Correspondents say the drawn-out process of passing an oil law has been a symbol of the struggle of Iraq’s ethnic groups to work together to build a stable, independent nation.

Under the terms of the deal oil revenues would be split among Iraq’s 18 provinces based on population levels.

That has been seen as a concession to Sunni Muslims in the centre of Iraq, where there are few oil reserves.

Read more

Your support matters…

Independent journalism is under threat and overshadowed by heavily funded mainstream media.

You can help level the playing field. Become a member.

Your tax-deductible contribution keeps us digging beneath the headlines to give you thought-provoking, investigative reporting and analysis that unearths what's really happening- without compromise.

Give today to support our courageous, independent journalists.