Obscure Russian Firm Wins Bid For Yukos Asset
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19 December 2004 -- The Russian firm Baikalfinansgroup has won the bidding to buy a core asset of the Yukos oil company -- Yuganskneftegaz -- as the Russian government today carried out its threat to dismember Yukos.
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Overseas firms may be allowed to bid for the key asset of under fire Russian oil firm Yukos, the Kremlin says.
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The future of the Russian oil industry took an unexpected turn Sunday when a previously unknown investment group won an auction for the main production assets of embattled oil company Yukos.
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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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Russia was set to rip the heart out of  its biggest oil producer YUKOS Sunday, with the firm's core  unit being sold in a forced auction after almost a decade in  private hands.  Unknown firm Baikal Finance Group was announced the winner of  the auction of Yuganskneftegaz soon after bidding began at 4  p.m., beating the favorite, state-controlled gas monopoly  Gazprom.
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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'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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BaikalFinansGroup won the auction for Yuganskneftegaz on Sunday, agreeing to pay $9.3 billion for the main production unit of Yukos, Russia&#39;s largest oil producer, according to published reports.
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A little known group bought the main production unit of Russia's largest oil producer, Yukos, at auction for &#36;9.3 billion on Sunday, gaining control of one of Russia's most prized assets at a fraction of what Yukos executives say it is worth.
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MOSCOW - Russia said on Friday it would go ahead with an auction to sell the key asset of embattled oil company Yukos despite a US bankruptcy court decision to block it for several days.
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Russia has sold the heart of the Yukos empire in an auction reminiscent of the country's notorious privatizations of the 1990s, analysts said Monday, as the former CEO of the oil company offered bitter season's greetings to the Kremlin from his courtroom cage.
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A bitter battle over collapsing Russian oil major Yukos reached its nadir as its most profitable production unit, Yuganskneftegaz, was sold in a bizarre forced auction on Sunday.
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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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Russian gas giant Gazprom is to bid in the government's $8.65bn sale of a key stake in stricken oil firm Yukos.
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Russia appears ready to sell the main asset of Yukos, the country&#39;s embattled oil company, for $4 billion, a fraction of its worth, reports say.
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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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The previously unknown company that made the winning bid for beleaguered Yukos Oil Co.&#39;s core production facility is likely to make it available to state-controlled Gazprom natural