Russian oil company Yukos completed a merger with a smaller rival Friday, even as government officials stepped up a criminal investigation of the giant producer.
Published:
4 October 2003 y., Saturday
Russian oil company Yukos completed a merger with a smaller rival Friday, even as government officials stepped up a criminal investigation of the giant producer.
Russia's General Prosecutor's Office sent investigators to comb through Yukos offices, a business club and a Yukos-funded orphanage as part of the probe, widely considered a politically motivated campaign.
Irina Alyoshina, deputy head of the special cases department in the prosecutor's office, told the ITAR-Tass news agency that the probe focused on alleged tax evasion running into millions of U.S. dollars.
The Yukos-Sibneft merger created the world's fourth-largest company in terms of oil production. The new company will be named YukosSibneft and will generate $15 billion in annual revenues and have an estimated market value of about $35 billion, officials said Friday.
With daily oil output expected at 2.06 million barrels, YukosSibneft will become the world's fourth-largest oil producer, behind ExxonMobil, BP and Royal Dutch Shell. It will have total reserves of around 19.4 billion barrels of oil equivalent.
Meanwhile, Russian prosecutors kept up the pressure on Yukos, sending teams into a business club in Zhukovka and an orphanage in Zvenigorod, both on the outskirts of Moscow. Investigators removed a computer hard disk and documents were removed from the orphanage, which looks after about 100 children from regions where Yukos operates, the Interfax news agency said.
It was unclear whether anything was removed from the business club. The General Prosecutor's Office told Interfax that both searches were linked to the ongoing probe into activities by Platon Lebedev, one of Yukos' top shareholders.
Šaltinis:
story.news.yahoo.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
Mr. Olli Rehn, European Union Commissioner, and Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), issued the following joint statement on Greece.
more »
The offering of shares of the new issue will commence on 03-05-2010.
more »
The World Bank today approved a $12 million IDA credit to Bhutan, designed to improve infrastructure services in parts of the capital city of Thimphu where no formal services are currently available.
more »
Fisheries ministers and stakeholders alike will be discussing the future shape of the EU's Common Fisheries Policy at two major events in Spain over the next days. On 2 and 3 May, in La Coruña, the Commission and the Spanish Presidency are organising a large stakeholder conference on the reform of the Common Fisheries Policy.
more »
Asia is leading the global recovery and the region’s contribution to global growth will continue to exceed that of other regions in the next two years, the International Monetary Fund (IMF) said today in its latest Regional Economic Outlook (REO) for Asia and the Pacific.
more »
The EBRD is supporting the modernization of the electricity distribution network and the development of renewable energy sources in Poland with a PLN 800 million loan (equivalent to approximately €205 million) to the Energa energy group in order to help the company strengthen its power grid.
more »
At the beginning of the summer this year, Vilnius will become the capital of the Baltic Sea region. On 1-2 June 2010, the city will host the Baltic Sea States Summit and the Baltic Development Forum (BDF) Summit.
more »
Visitors of the World Expo 2010, which will open in the Chinese city of Shanghai on May 1st under the slogan “Better City, Better Life” and will last for 184 days until the end of October, are kindly invited to get into a hot air balloon at the Lithuanian Pavilion.
more »
According to preliminary data, unaudited net loss sustained over the first quarter of the year 2010 by SEB Bank is LTL 59,4 million (EUR 17,2 million) and that by SEB Bank Group is LTL 80,3 million (EUR 23,3 million).
more »
European Globalisation Adjustment fund (EGF) aid must be delivered faster and more simply to unemployed workers hit by the financial crisis or globalisation, concluded the Budgets and Employment committees after evaluating the fund on Wednesday.
more »