VOL. XLIV

No. 13

26-March-2001

OMAN

JNOC To Liquidate Japex Oman And Niigata Oil

Japan National Oil Corporation (JNOC) announced on 19 March that it is planning to liquidate Japex Oman and another exploration firm, Niigata Oil Exploration Company. Japex Oman is owned by JNOC (49.6%), with the remaining shares held by Japan Petroleum Exploration Company, a unit of Itochu Corporation and Indonesia Petroleum Company. The move follows a decision by Japans Ministry of Economy, Trade and Industry...