Iraqi Parliament Declares it Can Halt Oil Contracts

Iraq's parliament has the authority to block a contentious oil deal with BP and China's CNPC, despite the oil ministry's insistence lawmakers can do nothing to derail the agreement, a top lawmaker said. "The government believes that such a subject is included in its authorities, according to existing law, but if parliament finds these contracts or this (bidding) round ... are not beneficial, parliament can prevent the government," parliament speaker Ayad al-Samarai said in an interview on Sunday.....Complete Story