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Gazpromseeks funding for Yukos unit bid.
(From Lloyds List)
RUSSIAN gas monopoly Gazprom is seeking funding from international markets to help finance a bid for Yukos' core production unit, Yuganskneftgaz, during the December 19 auction, writes Martyn Wingrove.
The government is forcing one of Russia's largest oil conglomerates Yukos to sell the subsidiary to help pay off tax debts and will start the auction at the starting price of $8.65bn.
'Acquiring assets with annual production of 50m tonnes (1m barrels per day) will allow us to raise output to 88m-90m tonnes,' said Sergei Bogdanchikov, head of Gazprom.
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