Thousands of oil workers in Iraq’s Basra shut down key oil sites on yesterday in protest of a government decision to shift the funding model of state-owned oil companies from self-financing to a centralised system that increases the state’s share of their revenues. The demonstrations are a response to policy changes that workers fear could lead to the privatisation of oil and gas companies, reduce incentives, and potentially cause financial instability in Iraq’s vital oil sector. The protests, which began early in the morning, saw demonstrators closing several major oil sites, including North …