Yukos under the hammer at $8.6bn
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Russia pressed ahead yesterday with controversial plans to break up the country&#39;s biggest oil company Yukos, setting a date of December 19 for an auction of its main production unit at a bargain basement starting price of $8.65bn (Â£4.88bn).
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YUKOS and its investors were left guessing as to Russia&#39;s next move Monday after its main oil production unit was sold off to Baikal Finance Group, a mystery firm registered in a provincial city.
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MOSCOW : A top Western bank asked to value Yukos&#39;s core asset said the Russian government chose the lowest price possible for a planned sale of the oil giant&#39;s crown jewel in a move that has shaken investors.
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The firm which controls embattled Russian oil giant Yukos says it will sue the government for $28.3bn.
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Yukos is in the process of selling a 56-percent stake in a Siberian natural gas company to the Anglo-Russian joint venture TNK-BP in a bid to pay off its crushing tax bill, Western oil sources and media reports revealed.
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The Russian government today set an auction date of Dec. 19 for the country's No. 1 oil producer, with a starting price at about $8.6 billion.
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Russia is set to go ahead with a sale of the main production asset of Yukos, the countryâs embattled oil company, despite an injunction issued late yesterday by a US court.
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The Russian oil company, Yukos, continued its legal battle with the Russian government in two-thousand-four. The government reported this year that Yukos owed more than twenty-seven thousand million dollars in taxes.
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Shares fell Thursday, led by Yukos, which is facing $20 billion in outstanding tax claims.
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MOSCOW, NOVEMBER 19: Russia pressed ahead on Friday with the last step in the destruction of embattled oil major Yukos, saying it will auction its main Siberian unit on December 19 at a starting price of $8.65 billion.
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China lent Russia $6 billion to help the  Kremlin renationalize the key unit of oil major YUKOS,  officials said on Tuesday, underpinning oil-hungry Beijing's  efforts to tap into Russia's huge energy business.
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MOSCOW Sept. 27, 2004 - Assets of Russia&#39;s beleaguered Yukos oil company should be sold for at least $15 billion, a senior official said Monday, as the company&#39;s main production unit is evaluated for sale against a crushing back-tax bill.
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Russian oil giant Yukos suffers another blow in its tax battle after a Moscow court rules it must pay $1.4bn (Â£778m) in fines.
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The Russian oil giant Yukos substantially increased the reserve estimates Friday for its biggest subsidiary, one currently being appraised for sale by the government.
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Shares in the Russian oil giant Yukos lose more than a fifth of their value, as the company faces a tax fine of $2.5bn.
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Russian tax authorities slapped oil giant Yukos and its main production unit with two new tax claims for nearly $10 billion, raising the company&#39;s total bill to more than $17.
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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