(EnergyAsia, December 26, Friday) — Japan‘s Nippon Oil Exploration said it is interested to join in investing in an oil refinery project in Iraq worth between US$5 and US$10 billion.

The company, a subsidiary of Nippon Oil, has begun discussions with the Iraqi government which is planning to build at least four refineries with a total capacity of 750,000 b/d to serve both the domestic and export markets.

The country has a number of older refineries but these units are not fully operational after years of underinvestment and war damage.