Yukos Said to Halt Some Exports to China
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Russia&#39;s Yukos oil company is suspending oil exports to the Chinese National Petroleum Corp. because it cannot afford to pay transport expenses, a news agency reported Sunday.
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Chinese officials urged Russiaâs biggest oil exporter Yukos Oil Company to stand by its earlier commitments to export crude oil to China.
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China&#39;s biggest petroleum company plans to demand compensation from OAO Yukos for losses resulting from the Russian oil giant&#39;s suspension of crude shipments, state media reported Monday.
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MOSCOW : Russia&#39;s embattled Yukos oil giant said it had partly suspended its deliveries to China because its legal troubles have left it without cash to pay transport and customs costs.
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MOSCOW: Foreign investors may take part in the sale of assets in Russian oil major Yukosâ main production unit, which could be offered at a 60% price discount to settle back taxes, Russian television reported on Monday.
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OAO YUKOS oil company has temporally stopped crude oil railway deliveries to Chinese CNPC following the problems with the settlement of railway tariff rates and exports duties.
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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 seeking to block  Sunday's auction for 10 days.
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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 $2.6 billion of company  funds could be seized by the authorities.
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The move is expected to dampen prospects for companies that have focused on taking advantage of the Chinese market.
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HOUSTON -- A US bankruptcy judge has issued a temporary restraining order to halt the planned auction of Russian oil company Yukos&#39; main oil-producing subsidiary, Yuganskneftegaz, Reuters reports.
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Russian President Vladimir Putin has hinted at Chinese involvement in the exploitation of the confiscated assets of the Yukos chief oil producing unit, marking a shift in Moscow&#39;s traditional closed-door policy to its Asian neighbor.
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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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China's biggest oil and gas producer could be offered a 20 percent 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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Yukos, the Russian oil giant, is playing a weak hand well in its battle with the Kremlin by cutting its oil shipments to China ahead of a meeting between leaders of the countries this week, analysts said on Monday.
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MOSCOW: Shares of Russian oil major Yukos fell on Friday after the firm said it would trim output at its main Yugansk unit and a paper reported the unit could be sold for a fraction of what analysts say it is worth.
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The troubled Russian oil company Yukos has suspended its oil deliveries to China&#39;s National Petroleum Company, saying it cannot afford the shipping costs.
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A U.S. bankruptcy court is likely to revoke its temporary ban on the sale of Russian oil group YUKOS's main production unit, lawyers said on Friday.