NO. 44


Iranian/Japanese Negotiations On Development Of Hormuz Oil-fields ReachDeadlock

According to MEES sources in Tokyo, negotiations between Iran's NIOC and aJapanese oil group led by Japex regarding the development of offshore oilfieldsin the Hormuz area at the entrance to the Persian Gulf have now reached a stateof deadlock. NIOC and Japex ö in which Japan's state-owned Japan National OilCorporation holds two-thirds of the shares ö signed a letter of intent inrespect...