A Yukos subsidiary gets a low valuation
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MOSCOW The Russian government said Tuesday that it would sell part of Yukos&#39;s most valuable subsidiary by the end of November as the company tries to pay off the billions of dollars it owes in taxes.
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YUKOS has reported a net loss of US$2.65 billion (£1.45bn) for the first half of 2004, a period of record oil prices, prompting speculation that the Russian oil firm is on the verge of declaring bankruptcy.
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Assets of Russia's beleaguered Yukos oil company should be sold for at least &#36;15 billion, a senior official said Monday, as the company's main production unit is evaluated for sale against a crushing back-tax bill.
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Assets of Russia&#39;s beleaguered Yukos oil company should fetch at least $15 billion, a senior official said Monday, as the company&#39;s main production unit is evaluated for sale to offset a crushing back-tax bill.
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An independent assessor valued Yukos&#39; main production unit at $14.7 billion to $17.3 billion on Thursday, the same day a news agency reported that a controlling stake in the business could be sold for just over $4 billion.
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NEW YORK, December 22  - Russiaâs gas giant, Gazprom (GAZ.FSE), said yesterday that it had sold the holding structure that took part in the sale of Yukoâs main production unit two days before the auction, in a move aimed at avoiding
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MOSCOW  - The Russian Justice Ministry announced Tuesday that the Yukos oil company's main production subsidiary, Yuganskneftegaz, had been evaluated at &#36;10.4 billion US and the ministry will sell off part of its assets, the Interfax news agency reported.
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Foreign investors may be allowed to bid for the key oil producing subsidiary of embattled Russian oil firm Yukos. Moscow authorities are forcing the sale of Yuganskneftegas, which accounts for 60% of the firm&#39;s
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Yukos has lost its main asset, Yuganskneftegaz, sold in an auction held by the Russian Fund of Federal Property, for $9.35 billion.
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The majority owner of embattled Russian oil company Yukos threatened legal action Monday against potential suitors for its main subsidiary, which is to be auctioned off by the government next Sunday.
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US officials have expressed concern about the fate of Yukos, the Russian oil company. Yukos shares have dropped sharply in value since the Russian government demanded it pay nearly three and a half billion dollars in back taxes. Russian authorities accuse ...
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Description: Yukos Oil&#39;s main asset is sold at auction to a little-known firm, the Baikal Finance Group. A US State Department spokesman says the Russian company&#39;s breakup has &quot;eroded Russia&#39;s reputation as
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MOSCOW  - China's biggest oil and gas producer could be offered a 20 per cent stake in a Russian state company that will control Yukos' former key subsidiary, a Russian minister said Thursday, in an apparent attempt by authorities to avoid legal fallout from the disputed auction of the Yukos unit.
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MOSCOW -- Beleaguered Russian oil company Yukos said yesterday 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.
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Russia appears ready to sell the main asset of Yukos, the country&#39;s embattled oil company, for $4 billion, a fraction of its worth, reports say.
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News had just broken that the country&#39;s top oil producer, Yukos, had fallen to an the obscure company. His man on the spot seemed just as mystified.
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Russia is vowing to proceed with an auction of oil giant Yukos' key production subsidiary, saying a U.S. court ban is irrelevant. But the expected winner of Sunday's auction, the state-run Russian gas company Gazprom, may not be able to pay after a consortium of Western banks reportedly put on hold billions of dollars in credit it needs to fund its bid.