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Japan To Help Redevelop Iraqi Oil Sector


An Iraqi oil pipeline burning after an attack by insurgents (epa) October 24, 2006 -- Japan and Iraq are negotiating details of a $3.5 billion loan, primarily to be used to rebuild Iraq's oil sector.


Iraqi Oil Minister Hussain al-Shahristani met with Japanese Trade Minister Akira Amari and Foreign Minister Taro Aso on October 24.


Al-Shahrisdtani said Iraq is losing about 400,000 barrels a day in crude oil exports due to increasingly frequent attacks by saboteurs on pipelines in the northern part of the country.


(AP)

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