VOL. XLII

No. 38

20-September-1999

OMAN

JNOC Withdraws From Oman Concession

The Japan National Oil Corporation (JNOC) announced on 13September that it has withdrawn from the oil and gas exploration agreementcovering Oman痴 block No. 35 after having decided that the project wasunviable. The move follows an announcement a year ago by Japan痴 Ministry ofInternational Trade and Industry, which provides JNOC with funding, thatseveral Japanese oil companies with bad loans could be merged or disbanded (...