YUKOS&#39; Hollow Victory
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Yesterday, Russia&#39;s erstwhile largest oil company, YUKOS (OTC BB: YUKOY), won a single legal skirmish in a land far from home.
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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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HAMISH ROBERTSON: But first to Moscow where the future of Russia&#39;s largest oil company, Yukos, isn&#39;t looking too bright this weekend.
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Yukos shares plummeted nearly 10 per cent in the first minutes of trading on Moscow&#39;s stock exchanges Friday after an unconfirmed report that the embattled oil giant&#39;s prize production unit could be sold for a quarter of its recommended value
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Assets of Russia&#39;s beleaguered Yukos oil company should fetch at least $15 billion, a senior official said Monday, as the company&#39;s main production unit is evaluated for sale to offset a crushing back-tax bill.
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Russia was set to rip the heart out of  its biggest oil producer YUKOS Sunday, with the firm's core  unit being sold in a forced auction after almost a decade in  private hands.  Unknown firm Baikal Finance Group was announced the winner of  the auction of Yuganskneftegaz soon after bidding began at 4  p.m., beating the favorite, state-controlled gas monopoly  Gazprom.
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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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RBC, 11.10.2004, Moscow 18:23:18.The Moscow Arbitration Court has recovered RUR39.113bn (about USD1.35bn) in overdue taxes for 2001 from YUKOS.
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Talk intensifies that oil company will sell its key Siberian unit for low price to pay back taxes. MOSCOW  - Shares of Russian oil company Yukos fell Monday as fears intensified that the firm&#39;s key
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Almost a year has passed since the then-Yukos CEO Mikhail Khodorkovsky was jailed. Meanwhile, the oil giant he founded is about to lose its core asset, Yuganskneftegaz, that produces 60 per cent of all its oil.
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The American chief executive of Russia&#39;s embattled oil giant Yukos yesterday held out little hope of saving the company from dismemberment by the Putin government this month.
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OAO Yukos Oil Co., Russia&#39;s biggest oil exporter, will lower crude-oil deliveries to China National Petroleum Corp. this month and supply no oil in October because the Russian company
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MOSCOW, DECEMBER 20: Russia Left Yukos and its investors guessing as to its next move on Monday after selling its main oil production unit to Baikal Finance Group, a mystery firm registered at a grocery in provincial Russia.
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The troubles of Yukos drive up the price
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Russia has sold the heart of the Yukos empire in an auction reminiscent of the country&#39;s notorious privatizations of the 1990s, analysts said Monday, as the former CEO of the oil company offered bitter season&#39;s greetings to the Kremlin from his courtroom
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Amid the intrigue surrounding the sale of the largest subsidiary of the Russian oil giant Yukos, the Kremlin effectively wound up with control of about 15 percent of the country&#39;s oil production, which industry analysts had speculated was the government&#39;s
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Russia's Yukos does not begin the week teetering on the edge of ruin where it has been for months now. The oil giant is flat on its back, gasping for its last breaths of air.