YUKOS Awaits Russia's Next Move After Mystery Sale
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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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Stricken Russian oil firm YUKOS may ask  a U.S. judge on Wednesday to find Gazprom in breach of a court  order for participating in the weekend sale of YUKOS's core  asset, which could expose the state gas giant to asset  seizures.
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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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The Russian parliament will launch an investigation today into the mystery buyer that won Sunday&#39;s auction for the main oil production unit of Yukos with a Â£4.8billion bid.
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A mystery company has bought the main production arm of the Russian oil giant Yukos. Baikal Finance Group has paid the equivalent of USD9.3bn for the production operation Yuganskneftegas at an auction.
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Russia has pressed ahead with the last step in the break-up of oil major YUKOS, saying it will auction its main unit for $8.65 billion.
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Embattled Russian oil group YUKOS should  hear later on Thursday whether a U.S. bankruptcy court will  attempt to hold up the sale of its main production unit this  weekend, but lawyers and analysts expect Moscow will go ahead  anyway.
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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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Description: Russian officials make it clear they plan to proceed with an auction of oil company Yukos&#39; main production unit, despite a restraining order from a US court.
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Russia pressed ahead yesterday with controversial plans to break up the country&#39;s biggest oil company Yukos, setting a date of December 19 for an auction of its main production unit at a bargain basement starting price of $8.65bn (Â£4.88bn).
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MOSCOW: Russia has said it would go ahead and sell Yuganskneftegaz, the main oil production unit of YUKOS, despite a US bankruptcy court order that seeks to halt Sundayâs auction for at least 10 days.
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Russia oil company YUKOS assets may be sold partially by the Russian Justice Ministry in order to cover its outstanding tax bill. The selling-off will probably touch YUKOS main oil subsidiary Yuganskneftegaz.
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RBC, 13.10.2004, Moscow 14:13:45.A new company may be created so that it will take part in the auction for selling YUKOS&#39; major oil producing subsidiary Yuganskneftegaz.
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Russia faces major challenges to structure the $9.4 billion purchase by state firm Rosneft of stricken oil major YUKOS&#39;s key unit after Western lenders got cold feet, analysts said on Wednesday.
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Analysts around the capital 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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MOSCOW - Russia is vowing to proceed with an auction of oil giant Yukos&#39; key production subsidiary, saying a US court ban is irrelevant.
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MOSCOW: Russian oil major YUKOS is poised to lose its core Siberian units, but the state will postpone its final move to dismantle the giant firm beyond next weekâs tax deadline, analysts predicted on Friday.