On Friday, Russia postponed by three months, a decision on whether to revoke the Siberian licences of embattled oil major Yukos
Published:
14 October 2004 y., Thursday
On Friday, Russia postponed by three months, a decision on whether to revoke the Siberian licences of embattled oil major Yukos, alleviating fears of a prompt value-destructive move.
The resources ministry’s commission notified Yukos that the firm was not fully complying with the licences terms for 21 Siberian fields and that breaches should be rectified within three months.
It will meet on five more licences later this month. The news followed earlier comments by resources minister Yuri Trutnev, who ruled out any early withdrawal of Yukos’ licences.
“The revocation of licences is possible only in three months and only if the company does not rectify breaches (in licence conditions),” he said at an economic forum in the Black Sea resort of Sochi.
“I believe there can’t be any withdrawal because it is illegal to withdraw licences without prior warning and without giving a chance to rectify breaches within the next three months,” Mr Trutnev said.
Yukos faces almost $8bn in back tax claims, its bank accounts are frozen and the firm has repeatedly warned it is not able to fund its basic operations and pay current taxes.
Šaltinis:
economictimes.indiatimes.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
An International Monetary Fund mission led by Mr. Paulo Drummond visited Bissau during January 12-27, 2010, to discuss the government’s medium-term economic program that could be supported by the IMF under the Extended Credit Facility.
more »
The International Monetary Fund (IMF) and the World Bank's International Development Association (IDA) have agreed to support US$1.9 billion in debt relief for the Republic of Congo, which includes US$255.2 million of debt relief from the two institutions.
more »
In 2009, net external assets of Monetary Financial Institutions remained negative but increased by LTL 9.3 billion.
more »
Spain's Minister for Science and Innovation, Cristina Garmendia, supports making R&D+i at the heart of Europe as a key to economic recovery.
more »
Lithuania and Malta granted reprieve on budget deficits; Hungary and Latvia on track to meet deadlines.
more »
More responsibility for fishermen, rules favouring good fishing practice and adjusting fisheries management models to complement and improve the traditional quota system should be among the key aims of common fisheries policy reform, say MEPs in an own-initiative report approved by the Fisheries Committee on Wednesday.
more »
On January 8, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Yemen.
more »
On January 22, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Norway.
more »
Agriculture can help to slow climate change, but should be ready to adapt to the impact of global warming, said Agriculture Committee MEPs and scientists at a public hearing on Wednesday.
more »
The Ministers for Employment of the European Union are holding an informal council on Thursday 28 and Friday 29 January which will lay the foundations for drawing up the common policies in the area of employment which the European Union will adopt over the next ten years as part of the “2020 Strategy”.
more »