Date Set for Auction Of Russian Oil Giant
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The protracted legal battle over Russian oil giant Yukos appeared to enter its final phase Friday when the government set a date to auction off a majority stake in the company&#39;s
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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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The Russian gas giant Gazprom declared Wednesday it would bid for a major oil production subsidiary of the embattled oil company Yukos when the subsidiary is auctioned off by the government on Dec.19.
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MOSCOW, NOVEMBER 19: Russia pressed ahead on Friday with the last step in the destruction of embattled oil major Yukos, saying it will auction its main Siberian unit on December 19 at a starting price of $8.65 billion.
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MOSCOW -- Russian tax authorities on Friday scheduled the equivalent of a fire sale at what was once the nation&#39;s largest oil company, offering the main production facility at Yukos Oil for auction next month at a fraction of its value.
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The Russian government plans to sell a majority stake in the main production unit of the embattled Yukos oil company at an auction scheduled for December 19, the Interfax news agency reported Friday.
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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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Russia is set to go ahead with a sale of the main production asset of Yukos, the countryâs embattled oil company, despite an injunction issued late yesterday by a US court.
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The government on Thursday set the date and starting price of an auction for its remaining stake in LUKoil and officially confirmed that US oil major ConocoPhillips will participate.
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On Sunday, Russia plans to auction the jewel of what used to be its most profitable, high-profile and well-run private company - the oil giant Yukos.
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MOSCOW - 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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Russia moved ahead Friday with plans to break up the country&#39;s largest oil producer over unpaid back tax bills, announcing it would auction off a majority stake in the main production unit of oil giant OAO Yukos next month.
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Russia said on Friday it would go ahead and sell Yuganskneftegaz, the main oil production unit of YUKOS, despite a US bankruptcy court order seeking to block Sunday&#39;s auction for 10 days.
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Gazprom, Russia's gas monopoly, says it will bid in the $8.65bn government sale of the main production arm of embattled oil firm Yukos.
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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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MOSCOW - Bidding for Yukos&#39;s main oil-pumping division, Yuganskneftgaz, will proceed as scheduled on Sunday, say Russian officials.
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Russia's gas monopoly Gazprom will bid for the crown jewel of the embattled oil giant Yukos during an upcoming December auction, a top company official said, confirming long-held market rumors.