Russian Government Approves Rosneft Purchase of Yukos Main Unit
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On Saturday, Dec. 25, Russiaâs Federal Anti-Monopoly Service approved the acquisition of Yuganskneftegaz, the core production asset of the embattled Yukos Oil Company , by the state-owned Rosneft Oil Company.
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Russian President Vladimir Putin  strongly defended the takeover by state oil firm Rosneft of  stricken oil major YUKOS' key production unit, Yuganskneftegaz,  calling it a legitimate business deal.
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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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The process of Gazprom, Rosneft merger will see no changes following Yuganskneftegaz acquisition by the latter. The respective decision was taken at the yesterday&#39;s sitting of Gazprom&#39;s BOD, Russia&#39;s Industry
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Russian state oil firm Rosneft moved on Friday to take control of stricken oil major YUKOS's key unit, Yuganskneftegaz, bought at a controversial auction which YUKOS is challenging in the U.S. courts.
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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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Battered Russian oil major YUKOS  YUKO.RTS said on Friday that Russian state oil firm Rosneft's  assumption of control over key unit Yuganskneftegaz was  tantamount to an "illegal seizure" of its asset.
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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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The Russian Competition Institution has approved the sale of Baykal Finans Group, which had purchased Yuganskneftgaz, the main oil production of Yukos, to state company Rosneft.
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Russian President Vladimir Putin Thursday strongly defended the takeover by state oil firm Rosneft of stricken oil major YUKOS's key production unit, Yuganskneftegaz, saying it was a legitimate business deal.
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MOSCOW: Russian state oil firm Rosneft has bought the core unit of Yukos, nationalising more than one-tenth of the countryâs crude output and dealing a shattering blow to a once flourishing private enterprise.
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American oil company ConocoPhillips acquired the Russian government&#39;s 7.6% stake in Lukoil yesterday, after bidding almost $2bn (Â£1.
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President Vladimir Putin backed a government proposal Tuesday to make the state oil company Rosneft a subsidiary of Gazprom &#151; a major step toward giving foreign investors access to the natural gas giant's coveted local shares.
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A delegation of Russian state oil firm Rosneft arrived on Friday in Nefteyugansk, hometown of stricken oil major YUKOS's key unit, Yuganskneftegaz, to take control of the company, YUKOS said.
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Russian President Vladimir Putin  Thursday strongly defended the takeover by state oil firm  Rosneft of stricken oil major YUKOS's key production unit,  Yuganskneftegaz, saying it was a legitimate business deal.
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Russia&#39;s anti-trust body said on Saturday it had approved the state oil firm Rosneft&#39;s purchase on Thursday of the obscure buyer of the key production unit of beleaguered YUKOS oil company.
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A little known company has bought the main production unit of embattled Russian oil company Yukos, for around USD9.35bn. Little is known about the auction winner Baikalfinansgroup - named after a Siberian