Japan Passes Law to Allow JOGMEC to Invest in Foreign Oil & Gas Firms

Source: www.gulfoilandgas.com 11/12/2016, Location: Asia

Japan's parliament passed a bill to allow state-run Japan Oil, Gas and Metals National Corp (JOGMEC) to participant in purchases of foreign oil and gas companies by Japanese firms or buy into foreign state-owned oil companies on its own.

The move will provide more financial muscle for Japanese companies to compete for global energy assets, just as other resource-hungry Asian economies such as China and India are also looking to snap up depressed oil assets.

Previously, JOGMEC was restricted to involvement in purchases of foreign natural resource assets by Japanese companies. The change in the law comes at a time when oil-producing countries are being forced to sell stakes to offset falling revenue due to slumping oil prices.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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