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BUSINESS BRIEFS.(TO THE POINT)
ENERGY
Russian oil firms up on Exxon talk
Shares of Yukos and Sibneft surged on a Mergermarket.com report that Exxon Mobil may pay $17.5 bil for a 25% stake in YukosSibneft, the entity they'll create in a pending merger. Also, the Russian firms plan to announce they've completed their deal Friday, sources said.
** Exxon CEO and Chairman Lee Raymond is due to address a conference in Moscow today and join Yukos' CEO on a panel regarding Russia's oil industry.
PetroKazakhstan disputes claim
The Canadian oil firm, known for its vast operations in Kazakhstan, vowed to fight a $6.3 mil fine by the middle Asian government, saying a $400,000 fine is more justified. Authorities, which accuse the firm and two others of using their monopoly to inflate prices, say they weighed the fine carefully. Some past fines have been overturned. PetroKazak rose 9%, recouping much of Wednesday's losses.
[** The Commodity Futures Trading Commission hopes to settle changes with American Electric Power that the utility tried to manipulate natural gas prices.
- BUSINESS BRIEFS
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...call Debbie Wheeler at 355-2700. Deadline for Sunday Business Briefs is noon Wednesday. The Amarillo Globe-News will print...by calling (806) 345-3322. Briefs may be mailed to Business Briefs, P.O. Box 2091, Amarillo, TX 79166-0001, sent via...