Banks Drop Support of Bid for Russian Oil Giant&#39;s Unit
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Russia brushed aside an American court&#39;s attempt to halt the auction of the oil giant Yukos&#39; biggest production unit, but a consortium of international banks withdrew
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A Russian court today rejected the beleaguered oil company's appeal to suspend government efforts to collect $3.4 billion in back taxes.
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MOSCOW, Dec. 19 - Russia dismantled its largest oil producer, Yukos, on Sunday by auctioning off the company&#39;s largest subsidiary to a little-known concern that registered as a last-minute bidder on Friday.
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Russia pledged on Friday to ignore a US court ban on the looming auction of oil giant Yukos&#39; key production unit, while a consortium of Western banks reportedly put on hold billions of dollars in credit for the state-run Russian gas company that was
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Cash-squeezed Yukos has lost a key partner at some of its most lucrative fields, as oilfield services company Schlumberger Ltd. confirmed Monday it was recalling some of its personnel and drilling equipment from Yukos' key production unit.
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A Russian court on Thursday rejected an appeal by the Yukos oil company seeking to overturn a freeze on the accounts of the struggling oil giant's core subsidiaries.
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The Russian oil giant's shareholders consider liquidation or filing for bankruptcy, instead of a rescue plan.
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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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President Vladimir Putin  scrapped with European Union leaders on Friday over Brussels'  plans to limit foreign investment in energy markets at a summit  that achieved little on key sticking points.
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Russia&#39;s state-controlled gas giant Gazprom approved a plan to bid for Yukos&#39; core production unit Wednesday amid reports that the company was negotiating to secure a euro10 billion (US$13 billion) loan from a group of Western banks to support its offer.
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Russian natural gas giant Gazprom and the 100 percent state-owned Rosneft oil company issued a joint denial Tuesday of a reported dispute over their proposed merger.
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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 said it would welcome Indian and other companies bidding for the assets of Russian oil giant Yukos, the country's biggest oil exporter, due to be sold off later this 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 U.S. bankruptcy court order which seeks to  halt Sunday's auction for at least 10 days.
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A consortium led by British insurer Prudential PLC has dropped its bid for a major South Korean state asset managing company, officials said.
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Russian oil giant Yukos has reportedly lost a court case against the sale of its main production unit.
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MOSCOW : The battered Russian oil giant Yukos said a Moscow court had frozen its 34.5 percent stake in rival Sibneft, halting a reversal of their merger that would provide cash for Yukos to settle massive tax bills.