Yukos considers self-destruction
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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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OAO Yukos Oil Co., Russia&#39;s biggest oil exporter, will ask shareholders to consider declaring bankruptcy to protect assets from government demands for $14 billion in back taxes, more than the company&#39;s market value.
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Russia was set to rip the heart out of  its biggest oil producer, YUKOS, on Sunday, with the auctioning  off of its core unit to meet tax bills in a move which will  boost the Kremlin's control of the nation's oil.
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Oil major Yukos, Russiaâs largest oil exporter, believes prosecutors want the âtotal destructionâ of the firm, but says the management board will continue to run it for as long as possible.
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OAO Yukos Oil Co. will draw up a ``short-term emergency plan&#39;&#39; to prepare for the sale of OAO Yuganskneftegas, the company&#39;s main oil-producing unit, and the ``expropriation of other assets.
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Embattled Russian oil company warns that it may scale back oil output after more funds seized. MOSCOW  - Russian oil major Yukos again warned on Thursday that it may be forced to cut output after
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Bankrupt Russian oil major YUKOS (YUKO.RTS: Quote, Profile, Research) on Tuesday said it would place ads in newspapers worldwide declaring its intention to seek damages of over $20 billion from parties involved in the sale of
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Oil major YUKOS YUKO.RTS said on  Wednesday it had filed for bankruptcy protection in a U.S.  court and would seek an order from the court to halt the Dec.  19 auction by the Russian state of its main production unit.
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LONDON Yukos, battling to avert bankruptcy, said on Wednesday that the Russian government might be considering ways to settle a $7.
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The main shareholder of Russia&#39;s giant oil firm Yukos is reported to have filed suit for compensation from the upcoming forced sale of the company&#39;s top production unit.
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Russian oil company Yukos, possibly making its last stand to prevent Russia from selling its main production unit in a tax dispute, asked a US bankruptcy judge Thursday to block a scheduled auction of the unit.
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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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YUKOS YUKO.RTS, the Russian oil  company under siege by the Kremlin, faces a key test in its bid  to stave off destruction when a U.S. court begins hearings on  Wednesday on whether to proceed with its legal case.
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Russian oil major YUKOS has filed for bankruptcy protection in a US court and will seek an injunction to stop Russia from auctioning off its main production unit on Dec. 19, it said on Wednesday.
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Yukos could declare bankruptcy before the new year following fresh claims that could leave the embattled gas giant facing a tax bill for $17 billion.
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Russian oil giant Yukos files for bankruptcy protection in the US in a last ditch effort to stop the Kremlin auctioning its main production unit.
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The heart of the Yukos oil empire will be auctioned by the government next month for what could be a bargain price to pay back a mounting multibillion-dollar tax bill  --  a dramatic finale to a relentless 18-month official probe that could destroy Russia's largest oil producer. A top Yukos manager slammed the plans as "government-organized theft."