Yukos suspends shipments to China
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Oil giant Yukos is halting two-thirds of its exports to China because of its financial troubles, a move which could raise oil prices.
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China has agreed to step in and pay Russian rail fees to ensure that it continues to receive Yukos oil if the company is unable to cover the transport costs, officials at Russia&#39;s rail transport monopoly said Wednesday.
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Yukos warned yesterday that it is no longer able to pay staff wages and that oil production could stop any day. The latest problems to beset Russia&#39;s biggest oil company sent the price of crude racing ahead again on the global markets.
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NEW YORK -- Oil prices broke above $46 yesterday after Russian oil giant Yukos said it would cut some oil shipments to China, the first toll on exports from the company's financial turmoil.
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Crude oil rose for a fourth day in New York after OAO Yukos Oil Co. said it will halt shipments to China&#39;s biggest oil company because its bank accounts have been frozen in a tax dispute with the Russian government.
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OAO YUKOS oil company has temporally stopped crude oil railway deliveries to Chinese CNPC following the problems with the settlement of railway tariff rates and exports duties.
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Crude oil prices in New York rose to their one-month high Monday after OAO Yukos Oil Co. said it would halt oil shipments to China while many traders concerned about a sharp decline in crude inventory.
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U.S. consumer products giant Procter &   Gamble Co. PG.N has suspended sales of its SK-II skincare   line in mainland China, pending clarification from the quality   watchdog over traces of possibly harmful metals.
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The Russian government delays a decision on whether to revoke Yukos' Siberian oil licences by three months.
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Russia&#39;s Natural Resources Ministry has postponed consideration of whether to suspend the licenses of the main subsidiary of the troubled giant oil firm Yukos.
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Russia&#39;s embattled Yukos oil giant raised the stakes in its bitter standoff with the Kremlin as the company slashed supplies to China in a move analysts said was designed to cause maximum embarrassment in Moscow.
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Russia's oil major YUKOS has asked the Lithuanian government to postpone at least for four months the procedure of purchase of shares of the Mazeikiu Nafta oil processing complex of Lithuania, YUKOS ...
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MOSCOW A Moscow court has barred the embattled Russian oil company Yukos from holding an emergency meeting at which shareholders were to vote on liquidating the company, an executive at another oil giant said Thursday.
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Russian oil major Yukos&#39; crippling tax debts finally forced a much-feared production cut on Wednesday, but its exports to Europe looked safe after it cut a barter deal with the pipeline monopoly.
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US crude oil futures climbed towards $46 a barrel Monday after Russia&#39;s Yukos suspended some oil exports to China and traders remained concerned about storm-related supply disruptions into the United States.
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Oil prices hit $46 on Monday after  Russian oil giant YUKOS said it would cut some oil shipments to  China, the first toll on exports from the company's financial  turmoil.
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China National Petroleum Corp. is in talks with Yukos in an effort to convince the Russian oil supplier to renew needed shipments of crude oil, an executive of China's state-run oil giant said Monday.