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
The European Commission launched "The ocean of tomorrow " call for research proposals. Oceans cover about 70% of the Earth's surface, but human activity is increasing environmental pressure on them.
more »
The EBRD is stepping up its support to the real economy in Georgia with new funds for on-lending to local businesses.
more »
Lithuania’s Ambassador to Germany and Special Representative for EU External Relations in the German Foreign Office discussed the situation regarding the decision of private credit insurance company in Germany Euler Hermes to apply the rating of a maximum risk country for Lithuania.
more »
Peter Reiniger Business Group Director for Central Europe and the Western Balkans from the European Bank for Reconstruction and Development visited Latvia to sign subordinated loan agreement with Parex banka.
more »
The European Commission has approved 16 programmes in 12 Member States to provide information on and to promote agricultural products in the European Union.
more »
New measures to help farmers through recession as milk prices tumble.
more »
Federal Reserve Chairman Ben Bernanke said the outlook for the long-suffering U.S. economy appears to be improving.
more »
The Swiss Government and the EBRD are providing €11.8 million to improve the supply of water to some 1 million people living in Bishkek, the capital of the Kyrgyz Republic.
more »
The Neighbourhood Investment Facility (NIF), a key instrument of the intensified European Neighbourhood Policy (ENP), will benefit in 2009 from a €70 million contribution by the European Commission.
more »
In response to the impact of the global crisis on the Romanian construction sector, the EBRD is supporting Lafarge Ciment (Romania) S.A. with a €20 million loan in Romanian lei to finance the company’s operations and to support its working capital requirements.
more »