Iraq limits no-bid oil contracts to one year

The Iraqi government is planning to limit no-bid contracts being negotiated with several major oil companies to one year to avoid overlap with longer-term deals expected to be signed next June, the Associated Press reported.

The no-bid contracts have sparked controversy because several major Western firms have been involved in the discussions. There are concerns that granting such contracts to Western oil companies could feed perceptions that U.S.-led forces toppled Saddam Hussein to grab the country's natural resources.