Russia gears up for Yukos auction
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Russia prepares for the forced auction of a prize oil asset - the main production unit of beleaguered oil giant Yukos.
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The Russian government plans to sell a majority stake in the main production unit of the embattled Yukos oil company at an auction scheduled for December 19, the Interfax news agency reported Friday.
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Russia's Federal Property Fund said on  Friday it intended to go ahead with an auction of oil major  YUKOS' main unit Yuganskneftegaz despite a U.S. court decision  to freeze the state-imposed sale.
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Russia appears ready to sell the main asset of Yukos, the country&#39;s embattled oil company, for $4 billion, a fraction of its worth, reports say.
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The Russian government said it will auction off Yukos's largest oil subsidiary at a price the company's chief executive called "state-organized theft."
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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 that seeks to halt  Sunday's auction for at least 10 days.
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Russia's Federal Property Fund said on Friday it intended to go ahead with an auction of oil major YUKOS' main unit Yuganskneftegaz despite a U.S. court decision to freeze the state-imposed sale.
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RUSSIAâS stricken oil industry is facing what some have branded a return to Soviet Union days after gas monopoly Gazprom said it might bid for the production arm of energy giant Yukos.
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Russia is toying with China and Japan, both of which are courting its oil, in a pipeline drama that could see the downtrodden giant Yukos and its assets play the clinching role.
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Russia&#39;s Gazprom said on Tuesday it will bid for embattled oil firm YUKOS&#39; main unit next month, as the Kremlin seeks to turn the world&#39;s biggest gas producer into a major oil player.
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Russian gas giant Gazprom is to bid in the government's $8.65bn sale of a key stake in stricken oil firm Yukos.
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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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Russia looks ready to sell the key production unit of beleaguered oil group YUKOS on Sunday and put it back in state hands after almost a decade under private management.
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Russia looks ready to sell the key  production unit of beleaguered oil group YUKOS on Sunday and  put it back in state hands after almost a decade under private  management.
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Russian oil major Yukos is expected to face the auction of its main subsidiary by the end of the month at a price far lower than its estimated worth, a move analysts say could ruin the company and destroy the equity of minority shareholders.
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On Sunday, Russia plans to auction the jewel of what used to be its most profitable, high-profile and well-run private company - the oil giant Yukos.
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Russia said it would welcome Indian and other companies bidding for the assets of Russian oil giant Yukos, the country's biggest oil exporter, due to be sold off later this month.