Global oil prices were down slightly as of late in the day on 29 July after the Russian Justice Ministry backed away from efforts to force embattled oil giant Yukos to stop selling oil
Published:
30 July 2004 y., Friday
Global oil prices were down slightly as of late in the day on 29 July after the Russian Justice Ministry backed away from efforts to force embattled oil giant Yukos to stop selling oil.
Prices reached a record high of $43.05 per barrel on 28 July on word that Russian bailiffs had ordered the company to cease oil sales. Justice Ministry spokesman Andrei Belyakov said on 29 July that "the bailiffs' activities are aimed neither at blocking the bank accounts nor the economic activities of Yukos's subsidiaries".
"Izvestiya" reported on 29 July that Yukos management has written a letter to the government predicting massive layoffs if an agreement over payment of the company's tax debts cannot be reached. The letter said that the bailiffs' order meant that three major Yukos subsidiaries were unable to sell oil, threatening the jobs of 15,000 people. The daily reported that Yukos shares have lost 60 percent of their value since 20 July. Dpa reported on 28 July that Yukos shares fell to $2.97 each when trading was halted for the third consecutive day.
Šaltinis:
rferl.org
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Most EU countries continue to meet deadlines for incorporating single market rules into national law, contributing to economic growth and job creation.
more »
Japanese officials unveil their new bullet train, capable of travelling at speeds of 320 km per hour (198 miles per hour).
more »
The first International Security Technology Exhibition, KIPS 2011, will be held on 23-26 February 2011 in Kiev (Ukraine). The motto of the exhibition is ‘There can never be too much security!’
more »
The world's highest restaurant opens in Dubai, United Arab Emirates, located 400 metres above ground in Burj Khalifa, the world's tallest tower.
more »
The rights of consumers will be clarified and updated, whether they shop at a local store or buy goods on line, under new EU rules as amended by the Internal Market Committee on Tuesday.
more »
MEPs on Wednesday gave their green light for the Council to conclude an Interim Economic Partnership Agreement with Papua New Guinea and Fiji, two countries of the Pacific Region with significant exports to the EU.
more »
Report sets 10 priorities for tackling the bloc's main economic challenges, launching the first ever ‘European semester'.
more »
China's first capsule hotel ready to open its doors in Shanghai, aims to capture slice of booming leisure budget travel market.
more »
Declaration by Michel Barnier on the start of three new authorities for supervision.
more »
On 1 January, Estonia adopted the euro as its official currency and the changeover is running smoothly and according to plan.
more »