Russia set to âspin off&#39; Yukos asset
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The main asset of Yukos, the crippled Russian oil company, will not be integrated into Gazprom, the state gas monopoly, but remain as a separate state-controlled group, the Russian government said yesterday.
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Russian state oil firm Rosneft moved on Friday to take control of stricken oil major YUKOS&#39;s key unit, Yuganskneftegaz, bought at a controversial auction which YUKOS is challenging in the US courts.
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RUSSIAâS business leaders are bracing themselves for a further assault from the Kremlin after the effective renationalisation last week of Yukos, the oil company formerly headed by Mikhail Khodorkovsky, the jailed billionaire tycoon.
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With a Putin aide now at its helm, Russia's state-run oil firm seems set to grab the falling giant's assets
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MOSCOW, DECEMBER 20: Russia Left Yukos and its investors guessing as to its next move on Monday after selling its main oil production unit to Baikal Finance Group, a mystery firm registered at a grocery in provincial Russia.
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Russia is pressing ahead with the last step in the destruction of YUKOS, saying it will auction the oil major&#39;s main Siberian unit on December 19 for $8.65 billion (4.66
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Russia's Federal Property Fund said on  Friday it intended to go ahead with an auction of oil major  YUKOS' main unit Yuganskneftegaz despite a U.S. court decision  to freeze the state-imposed sale.
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Russian oil major Yukos is expected to face the auction of its main subsidiary by the end of the month at a price far lower than its estimated worth, a move analysts say could ruin the company and destroy the equity of minority shareholders.
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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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MOSCOW : A top Western bank asked to value Yukos&#39;s core asset said the Russian government chose the lowest price possible for a planned sale of the oil giant&#39;s crown jewel in a move that has shaken investors.
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YUKOS and its investors were left guessing as to Russia&#39;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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The Russian government will sell a majority stake in the main production unit of the embattled Yukos oil company at an auction scheduled for Dec. 19, the Interfax news agency reported Friday.
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Russia's justice ministry announced plans to break up the Yukos oil giant in a fatal blow to Russia's largest oil producer and former Western investor darling that once dared challenge President Vladimir Putin's rule.
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Yukos&#39; future has been thrown into fresh doubt amid reports that Russia is planning to sell 77% of its key oil production unit by the end of November.
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The Russian government will auction off Yuganskneftegas, the main production unit of embattled oil giant Yukos, on December 19 with a starting price of 246.75 billion rubles (8.65 billion dollars), the federal property fund announced.
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Russia said on Friday it would go ahead  and sell Yuganskneftegaz, the main oil production unit of  YUKOS, despite a U.S. bankruptcy court order which seeks to  halt Sunday's auction for at least 10 days.
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The sale by auction of the main production arm of Russian oil company Yukos is scheduled to take place today. Yukos&#39;s troubles began when its founder and key shareholder, Mikhail Khodorkovsky, broke an unwritten