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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Russia promised to sort out Yukos oil deliveries to China ahead of a visit by Chinese Premier Wen Jiabao dominated by the struggling oil major's decision to cut supplies to the energy-hungry Asian giant.
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BOSTON (CBS.MW) -- Russian oil company Yukos has halted some oil shipment to the Chinese National Petroleum Corp. because it can&#39;t afford the transportation costs, according to a published report.
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China's state-owned oil company may get a 20% stake in Yukos' former oil production unit, a Russian minister says.
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MOSCOW, Dec. 17 -- Russia pledged Friday to  ignore a U.S. court ban on the looming auction of oil giant Yukos' 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 expected to buy the unit.
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China has agreed to step in and pay Russian rail fees to ensure that it continues to receive Yukos oil if the company is unable to cover the transport costs, officials at Russia&#39;s rail transport monopoly said Wednesday.
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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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The board of Russia's embattled oil giant Yukos will halt crude supplies to Baltic refinery Mazeikiu Nafta until the end of the year, the Interfax agency reported Monday &#151; just hours after Yukos confirmed a similar move involving a Chinese company.
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MOSCOW  - The head of Russia's state-owned railway network said Thursday that a Chinese oil company will cover the embattled Yukos oil company's rail transport bills for October, the Interfax news agency reported.
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Yukos warned yesterday that it is no longer able to pay staff wages and that oil production could stop any day. The latest problems to beset Russia&#39;s biggest oil company sent the price of crude racing ahead again on the global markets.
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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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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 &#36;2.6 billion of company funds could be seized by the authorities.
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OAO Yukos Oil Co., Russia&#39;s second- largest oil producer, called on banks to reconsider participation in the sale of its biggest unit, after a US judge temporarily barred them from the process.
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MOSCOW  - Embattled oil giant Yukos' shipments to China have been suspended until at least Oct. 20, company and government officials confirmed Thursday.
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NEW YORK -- Oil prices broke above $46 yesterday after Russian oil giant Yukos said it would cut some oil shipments to China, the first toll on exports from the company's financial turmoil.
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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 seeking to block  Sunday's auction for 10 days.