Provinces get additional oil revenue
Cabinet meets Governors' demands to increase petrodollar payments to end to one crucial budget battle.
Basra Governor Majid al-Nasrawi hosts other governors of oil producing provinces and members of Parliament, including Oil and Energy Committee chairman Adnan al-Janabi, at a Jan. 25 conference organizing a protest against the cut in petrodollar allocations. (ALI ABU IRAQ/Iraq Oil Report)
The Iraqi Cabinet has increased revenue redistribution to oil and gas producing provinces, adding another $5.8 billion to the petrodollar allocation – and the ballooning draft 2014 budget – and heading off an exacerbating chorus of protest from provincial officials such as Basra and Missan, which had threatened to shut in production.
The Cabinet decision follows weeks of protest and the formation of a coalition of governors of oil-producing provinces that publicly demanded action by the central government or risk retaliation, including lawsuits, public protests and hobble production.
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