Gazprom ally takes control of Yukos
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By Carl Mortished, International Business Editor, and Suzy Jagger. GAZPROM, the worldâs biggest gas group which is part-owned by the Russian State, last night transformed itself into a global oil giant when
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NEW YORK, December 23  - The Russian government appears all set to control 15% of the countryâs oil production, with the state-owned Rosneft purchasing Baikalfinansgroup, the unknown entity which won the weekend auction of Yukos
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Directors at Gazprom, the largest natural gas company in the world, approved the creation of an oil holding company Friday, setting the stage for the creation of a state-controlled oil and gas giant and cementing the Russian government's influence in the politically important oil sector.
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The future of the Russian oil industry took an unexpected turn Sunday when a previously unknown investment group won an auction for the main production assets of embattled oil company Yukos.
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Gazprom, Russia&#39;s state-controlled gas monopoly, on Tuesday said it would bid for the main production unit of Yukos, the country&#39;s embattled oil
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Russia's Gazprom said on Tuesday it will  bid for embattled oil firm YUKOS' main unit next month, as the  Kremlin seeks to turn the world's biggest gas producer into a  major oil player.
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Baikal Finance Group, an unknown  company, won an auction for Russian oil company's YUKOS's core  asset Sunday with a $9.4 billion bid and analysts said whomever  was behind the bid enjoyed Kremlin favor.
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Two little-known firms will join Russia gas monopoly Gazprom in the auction for the key unit of stricken oil giant Yukos, federal authorities say.
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Baikal Finance Group, an unknown company, won an auction for Russian oil company's YUKOS's core asset Sunday with a &#36;9.4 billion bid and analysts said whomever was behind the bid enjoyed Kremlin favor.
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Russia&#39;s state-controlled gas giant Gazprom approved a plan to bid for Yukos&#39; core production unit Wednesday amid reports that the company was negotiating to secure a euro10 billion (US$13 billion) loan from a group of Western banks to support its offer.
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Board chairman of the Russian natural gas monopoly Gazprom , Alexei Miller, has signed an order to found the Gazpromneft company, the RIA-Novosti news agency reports.
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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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The Russian Competition Institution has approved the sale of Baykal Finans Group, which had purchased Yuganskneftgaz, the main oil production of Yukos, to state company Rosneft.
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Russian gas giant Gazprom pushed ahead with plans to bid for the main production unit of embattled oil group Yukos, a takeover that would create a state-controlled oil and gas behemoth to rival Saudi Arabia's Aramco.
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In Putinâs Russia Gazprom is by no means a mere natural monopoly, nor a newly established ministry for oil and gas. Gazprom is an instrument of public administration just like the pro-Kremlin United Russia
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MOSCOW : Russia moved to bolster its role in the strategic energy sector as gas giant Gazprom said it would acquire state oil firm Rosneft, handing the government control of the world&#39;s largest gas producer.
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Gazprom, Russia's gas monopoly, says it will bid in the $8.65bn government sale of the main production arm of embattled oil firm Yukos.