The Iraqi government is inviting major oil multinationals to participate for the first time in the development of the oil industry, without waiting for the passage of crucial legislation determining how the revenues will be shared between its regions.

In a sign that the oil law - legislation the US considers key to Iraq's future stability - is unlikely to be agreed by parliament soon, Hussain Shahristani, oil minister, said Iraq was determined to push ahead with plans to raise production from a current 2.5m barrels per day to 6m bpd in five years.