The main production unit of embattled Russian oil giant Yukos has been forcibly auctioned off
Published:
20 December 2004 y., Monday
The main production unit of embattled Russian oil giant Yukos has been forcibly auctioned off. The sale was ordered by the authorities who say they were acting to recover billions in unpaid taxes from the firm. But the sell-off did not go quite as expected.
It was thought the buyer would be Russia's state-sponsored gas monopoly, Gazprom - fuelling concerns that the Kremlin was moving in to take control of Yukos's principal asset.
But, in the end, it was the mystery Baikal Finance Group that paid out over nine billion dollars in a sale that went ahead despite a restraining order by a US court, where Yukos has filed for bankruptcy protection.
However, the fact that the buyer was unheard of until a few days ago has prompted speculation that it could simply be Gazprom under a different name. When a Russian reporter tried to track down Baikal's official headquarters, he found only a shop and restaurant.
Baikal's purchase, Yugansk, pumps more oil than OPEC member Qatar. It is reported that if Baikal does not pay up within a certain time limit, its new acquisition will automatically come under government control.
Šaltinis:
euronews.net
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 Parliament's proposal for its own operational budget for 2011 includes the financing of measures in preparation for enlargement with Croatia.
more »
Links between business and the academic world need to be strengthened but higher education institutions must retain their autonomy and public support, says a resolution adopted on Thursday by the European Parliament.
more »
The Spanish Minister of Economy and Finance, Elena Salgado, will present the additional fiscal tightening measures set out by the Spanish Government to her eurozone (Eurogroup) counterparts on Monday; the measures were required by Spain’s European partners as a condition of approving the plan to bolster the euro on 9 May.
more »
The European Commission has opened an in-depth investigation under EU State aid rules into capital injections destined to two subsidiaries of state owned company Elan Skupina in Slovenia.
more »
GDP growth in the EU expected to gradually pick up, though recovery less robust than past upturns.
more »
The EESC tabled its opinion on the regulation of alternative investment funds, such as hedge funds and private funds. Although endorsing the much debated proposal of the European Commission, the EESC calls for uniform risk data provision for all such funds and emphasizes their responsibility in triggering the crisis.
more »
Concluding the process and deciding on the schedule for releasing the funds agreed on for Greece, as well as examining and learning lessons from the crisis for the governance of the eurozone, will be the focus of the discussions of the heads of state and government at the meeting in Brussels this Friday.
more »
The EU pavilion at the world expo in Shanghai marks the first time the EU has presented itself to a large Chinese audience.
more »
Shanghai's World Expo offers visitors plenty of fun offering bizarre things to do at over 200 pavillions competing for attention.
more »
The European Investment Bank (EIB) is providing a loan of EUR 150 million to MVM Zrt. for the capacity increase and the extension of a high-voltage transmission network, partly constituting priority axes of the Trans-European Energy Network (TEN-E) in Hungary.
more »