The Lithuanian government has rejected a request by Russian oil giant Yukos that would enable it to delay an increase in its stake in the Lithuanian oil refinery Mazeikiu Nafta, the government's information bureau said
Published:
4 December 2004 y., Saturday
The Lithuanian government has rejected a request by Russian oil giant Yukos that would enable it to delay an increase in its stake in the Lithuanian oil refinery Mazeikiu Nafta, the government's information bureau said.
"The cabinet decided not to agree with the delay of the term, as the investment treaty does not provide for it," the statement said.
Yukos, which now holds a stake of 53.7%, took control of Mazeikiu Nafta from the Williams company of the United States in 2002.
Under an agreement with the Lithuanian government, Yukos has the right to to buy 9.72% of newly issued shares for 75 million dollars. The same agreement allows Yukos to buy another 11.5%
shares in the refinery from the government, which currently has a 40.6% stake.
Yukos in October informed the Lithuanian government that it intended to buy new shares but later asked for a 120-day delay in the beginning of the procedures.
The refinery acquires about 63% of the oil it needs from Yukos, with the rest coming from other Russian companies.
The Mazeikiu Nafta complex includes an oil refinery, the Butinge off-shore terminal and a pipeline.
Šaltinis:
bday.co.za
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
A specific EU budget line for the new EU stabilisation mechanism should be created as soon as possible, to ensure its credibility, Council, Commission and Parliament negotiators agreed at a three-way meeting on Wednesday.
more »
New EU rule will help phone-users avoid astronomical bills for web-surfing and downloads abroad.
more »
The Communication approved today by the Commission builds on the principles presented on 12 May to reinforce the economic governance in the European Union.
more »
Eurostat report just published shows that the crisis has brought some lower taxes.
more »
New legislation is needed to ensure fair returns to farmers and transparent prices to consumers, by enforcing fair competition throughout the food supply chain, said Agriculture Committee MEPs on Monday.
more »
Fish imports play a crucial role in supplying the European market, yet fisheries and aquaculture are strategic sectors that do not lend themselves to a purely free-trade approach, believes the EP Fisheries Committee.
more »
I will support every proposal that strengthens cooperation among the European Union's Member States and serves Lithuania's interests," President of the Republic of Lithuania Dalia Grybauskaitė said at the meeting with EU Member States' ambassadors resident in Lithuania.
more »
The fourth World Lithuanian Economic Forum “High tech innovation & investment: local to global” will start in London on 22 June.
more »
Lithuania aims for the five Nordic countries and three Baltic States to become single community of values, which would be linked by a versatile quality of democracy, security and everyday life.
more »
MEPs decided on Wednesday to create a special committee to prepare for the EU's next long-term budgetary framework.
more »