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 World Bank is seeing a surge in demand from borrowers seeking the Bank’s expertise to mitigate currency and interest rate risk.
more »
The European Commission has approved under EU state aid rules a Lithuanian package intended to stabilise the markets as a response to the global financial crisis.
more »
Total cereal production in 2010 should be close to the average from the last five years. While the yield per hectare will be 5% above average, overall cultivated areas have decreased.
more »
According to the unaudited data, AB Bank SNORAS profit prior to provisions and tax exemption within the first half of this year comprised LTL 51 million, the bank formed almost LTL 48 million provisions.
more »
The European Commission today approved two applications from Denmark for assistance from the EU Globalisation Adjustment Fund (EGF).
more »
The European Investment Bank today signed two loans for a total amount of EUR 150 million in support of small and medium-sized enterprises (SMEs) in Turkey.
more »
On 23 July 2010 the Board of the Bank of Lithuania permitted Bank SNORAS to register a change to the articles of association related to the increase of the authorized capital of the bank by LTL 82.3 million up to LTL 494,217,107.
more »
Heads of State and top officials from the Central American Integration System and World Bank Group President, Robert B. Zoellick, agreed to join efforts towards regional cooperation and integration and adopted a comprehensive agenda that includes an action plan with more than 20 specific measures.
more »
The Executive Board of the International Monetary Fund (IMF) today approved the full cancellation of Haiti’s outstanding liabilities to the Fund, of about SDR 178 million (equivalent to US$268 million).
more »
The Executive Board of the International Monetary Fund (IMF) today completed the third review of Latvia's performance under an economic program supported by a Stand-By Arrangement (SBA).
more »