Yukos Trims Oil Output Forecast As Tax Fight Thwarts Expansion
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OAO Yukos said it is cutting its oil-output growth forecast for 2004 and would reduce its capital expenditures, in a sign that its conflict with the Kremlin was hurting the expansion of Russia&#39;s biggest oil exporter.
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The Russian oil giant Yukos said on Sunday that it would immediately reduce some of its rail exports of crude oil to China. It appears to be the first time that Yukos&#39;s
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The board of Russia's embattled oil giant Yukos will halt crude supplies to Baltic refinery Mazeikiu Nafta until the end of the year, the Interfax agency reported Monday &#151; just hours after Yukos confirmed a similar move involving a Chinese company.
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Russian oil major YUKOS again warned on Thursday that it may be forced to cut output after saying that a Moscow court ruled this week that &#36;2.6 billion of company funds could be seized by the authorities.
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The CEO of the shattered Russian oil giant Yukos said Tuesday that the company is pushing ahead with a strategy for its remaining divisions but will be cutting jobs following the government's seizure and auction of its main production subsidiary.
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Talk intensifies that oil company will sell its key Siberian unit for low price to pay back taxes. MOSCOW  - Shares of Russian oil company Yukos fell Monday as fears intensified that the firm&#39;s key
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But exports to Europe safe after the Russian oil firm seals a barter deal with pipeline monopoly. MOSCOW  - Yukos&#39; crippling tax debts finally forced the Russian oil major to make a much-feared production cut Wednesday.
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Oil prices spiked today after the Russian oil giant Yukos said it cannot pay wages and that its output could suffer due to a court ruling that froze some of its assets.
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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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Russian oil and gas company Yukos has suffered another setback in its battle to avoid paying billions of dollars in back taxes and avoid bankruptcy.
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Embattled Russian oil giant Yukos cut its 2004 oil production target from 90 million tonnes to 86 million tonnes, saying its inability to access frozen accounts had forced the firm to reduce operating costs.
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The battle between Russian President Vladimir Putin and Yukos, the country&#39;s largest oil producer, intensified Tuesday after government officials announced plans to sell the company&#39;s key energy fields at rock-bottom prices.
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Russian energy ministry says sale of assets most likely outcome from oil company&#39;s $7B tax dispute. MOSCOW  - The sale of Yukos assets will be the &quot;most natural&quot; outcome of the $7 billion tax dispute
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Embattled Russian oil giant Yukos cut its 2004 oil production target from 90 million tonnes to 86 million tonnes, saying its inability to access its frozen accounts had forced the firm to reduce operating costs.
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MOSCOW  - The planned sale of Russian oil giant Yukos' main pumping unit to pay off the parent company's back taxes won't affect production, Russia's energy minister was quoted Tuesday in news reports.
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Beleaguered Russian energy giant Yukos has warned that it will not produce as much oil as expected this year. It blames bailiffs who are draining its bank accounts to pay its potentially ruinous tax bill.
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Beleaguered Russian oil company Yukos announced Monday that it had reduced its crude output forecast for the year as bailiffs continued to collect cash against the company's crushing back taxes bill from its frozen bank accounts.