Unknown Company Baikal Wins YUKOS Auction
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Baikal Finance Group, an unknown  company, won an auction for Russian oil company's YUKOS's core  asset Sunday with a $9.4 billion bid and analysts said whomever  was behind the bid enjoyed Kremlin favor.
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YUKOS and its investors were left guessing as to Russia&#39;s next move Monday after its main oil production unit was sold off to Baikal Finance Group, a mystery firm registered in a provincial city.
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MOSCOW  - Russia's little-known BaikalFinansGroup bought the core production unit of oil giant Yukos at auction for &#36;9.3 billion US on Sunday, gaining control of one of Russia's most prized oil assets.
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OAO Rosneft, Russia&#39;s state-owned oil company, bought the winning bidder for the confiscated unit of OAO Yukos Oil Co., Russia&#39;s largest petroleum exporter, Interfax reported, citing an unnamed Rosneft official.
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In a surprising turn of events, an unknown company placed the winning bid for the oil arm of Yukos at a much publicised auction in Moscow on Sunday.
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Analysts sought Monday to identify the mysterious group that bought a $9.3 billion majority stake in the Yuganskneftegaz oil fields in Siberia, the prime asset of the moribund Russian oil giant Yukos.
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YUKOS and its investors were left guessing as to Russia's next move Monday after its main oil production unit was sold off to Baikal Finance Group, a mystery firm registered in a provincial city.
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Moscow. (Interfax-China) - The assets of Yuganskneftegaz, the core production unit of Yukos sold at an auction on December 19, will be transferred to a separate, wholly state-owned company, the Russian Industry
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Russian state-owned oil company Rosneft has acquired the mysterious buyer of Yukos' most important production unit, Russian news agencies reported.
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The US oil giant ConocoPhillips on Wednesday won an auction to purchase state-held stake of Russia&#39;s second largest oil producer Lukoil.
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Baikal Finance Group is a previously unknown entity, presumed by many to be a front for another bidder or bidders. Reports indicate it was recently registered at an address, said to be a grocers, in Tver, a city north of Moscow.
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A little known Russian organization, Baikalfinansgroup, bought the core production unit of the troubled Yukos oil company at auction for &#36;9.3 billion Sunday, gaining control of one of Russia's most prized oil assets.
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Two little-known firms will join Russia gas monopoly Gazprom in the auction for the key unit of stricken oil giant Yukos, federal authorities say.
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Yukos shares rise after Russia's leading energy groups said they would not bid for its main production subsidiary.
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Russia's anti-trust body said on Saturday it had approved the state oil firm Rosneft's purchase on Thursday of the obscure buyer of the key production unit of beleaguered YUKOS oil company.
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An oil company controlled by the Russian government, Rosneft, said yesterday that it had bought the company that had won Sunday&#39;s auction for the largest subsidiary of the oil giant Yukos.
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The Russian government will auction off Yuganskneftegas, the main production unit of embattled oil giant Yukos, on December 19 with a starting price of 246.75 billion rubles (8.65 billion dollars), the federal property fund announced.