Iraq oil project stalled by IS to start this year with Japan aid

A project to build an oil refinery in Iraq with Japanese financial aid will begin by year-end, after being delayed by the Islamic State militant group, according to an executive of an Iraqi state-run company.South Refineries Co. is set to call for bids by December to build the plant in the southern city of Basra, with an eye toward construction beginning next year, director general Husam Weli said in a recent interview with Kyodo News.Japan, which has already provided around 42 billion yen in loans for the project, will extend additional official development assistance to bring the total to…READ FULL ARTICLE