Auction for Yukos core set for Dec. 19
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A planned sale of Russian energy giant Yukos&#39; main asset has become clouded by confusion over the price, the participants and the legality of the sale.
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Russian oil major Yukos is expected to face the auction of its main subsidiary by the end of the month at a price far lower than its estimated worth, a move analysts say could ruin the company and destroy the equity of minority shareholders.
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The Russian Government is going ahead with the sale of a large part of oil giant Yukos in order to recover an $18 billion tax debt.
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Russian natural gas monopoly Gazprom ended weeks of speculation by announcing it will bid for struggling oil company Yukos&#39;s main production unit when it goes on the auction block this month.
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Russia&#39;s Gazprom said on Tuesday it will bid for embattled oil firm YUKOS&#39; main unit next month, as the Kremlin seeks to turn the world&#39;s biggest gas producer into a major oil player.
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The Russian government plans to sell a majority stake in the main production unit of oil giant OAO Yukos at an auction on December 19.
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Yukos can succeed in postponing the auction of Yuganskneftegaz on December 19 if the court rules in its favor in the case where the Russian oil giant seeks US Chapter 11 bankruptcy protection.
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Russia sets a date and price for the auction of embattled Russian oil giant Yukos' main unit, as it seeks payment of a massive tax bill.
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Russia's Federal Property Fund said on Friday it intended to go ahead with an auction of oil major YUKOS' main unit Yuganskneftegaz despite a U.S. court decision to freeze the state-imposed sale.
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Russia&#39;s state-owned Gazprom monopoly has announced it will bid for Yukos&#39;s main oil production unit, which is being auctioned off by the government.
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The Russian Justice Ministry says it plans to sell some of the assets of the giant Yukos oil company to cover its outstanding tax bill.
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MOSCOW  - State gas giant Gazprom will take part in the Dec. 19 auction of Yukos unit Yuganskneftegaz, the head of the monopoly's new oil division said Tuesday.
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The Russian Federal Property Fund announced on Friday, November 19, that the auction to sell the shares of Yuganskneftegaz, the main production subsidiary of embattled Yukos Oil Company will take place on December 19.
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Gazpromâs oil arm Gazpromneft is set to take part in the auction for Yuganskneftegaz, Yukosâ main production unit, despite a ruling by a US bankruptcy court to halt the sale for 10 days.
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The receiver of Russian oil firm Yukos will hold the first auction of its remaining assets next month.
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The Russian oil giant Yukos said it was putting together a plan to continue running for a few months, even after the auction of its prize asset in December.
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RBC, 30.11.2004, Moscow 12:09:36.Gazpromneft will take part in an auction on selling YUKOS&#39; oil producing subsidiary Yuganskneftegaz.