AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Gazprom to Bid for Yuganskneftegaz.
(From The Moscow Times)
Gazprom will bid for Yuganskneftegaz as the Kremlin forges a massive state-controlled oil and gas major to include Yukos' main production unit.
The gas giant's new oil unit, Gazpromneft, will bid for Yuganskneftegaz, building up oil production to compete with major world energy companies such as ExxonMobil, BP and Royal Dutch/Shell Group, Gazpromneft general director Sergei Bogdanchikov said Tuesday.
"Gazpromneft will take part in the auction for Yugansk," a visibly nervous Bogdanchikov told a hushed conference at Gazprom's headquarters in southwestern Moscow.
"We will continue to work on acquiring assets because Gazprom must have two components of equal strength [in oil and gas] so that Russia has at least one really world-class company."
The announcement confirmed fevered speculation that Gazprom would take part in the auction for 76.79 percent of Yugansk. The Federal Property Fund said last month that the unit would be sold at auction on Dec. 19 with a starting price of 246.75 billion rubles ($8.65 billion).
Having Gazprom buy Yugansk allows the Kremlin to build up the gas giant's oil production as it crafts a state-controlled energy colossus capable of competing on world markets while destroying Yukos, whose controlling shareholders have been in conflict with the Kremlin for a year and a half.
- Yugansk valuation increases agony for ailing Russian oil giant Yukos.
- Newspaper article from: Sunday Business (London) October 17, 2004 700+ words
...intent on dispossessing Yukos of Yugansk, which produces 60 percent...closely linked to the state -- Gazprom, Rosneft and Surgutneftegas...painted as nationalisation. Gazprom and Rosneft, on the other...this leaves Yukos. Even with Yugansk sold for $10.4 billion...
- RUSSIA - Nov 19 - Moscow Approves Forced Sale Of Yugansk.
- Newspaper article from: APS Diplomat Recorder November 20, 2004 700+ words
...groups have ruled out competing in the Yugansk auction for fear of being sued by Yukos shareholders, and many analysts believe Gazprom and Rosneft, the merging state-controlled...sales in that year. The planned sale of Yugansk comes one day ahead of an extraordinary...
- RUSSIA: COMPANY PREPARES TO LAUNCH NEW INTERNATIONAL CASES TO WIN BACK...
- Newspaper article from: IPR Strategic Business Information Database February 6, 2005 700+ words
...abroad, including "the assets of companies that cooperated in the confiscation of our property," apparently referring to Gazprom and Rosneft. RC Copyright (c) 2005. RFE/RL, Inc. Reprinted with the permission of Radio Free Europe/Radio Liberty
- Assets Arrest: Yugansk Asks Netherlands To Arrest Yukos Assets.
- Newspaper article from: NEFTE Compass October 12, 2005 700+ words
...Mutual Assistance in Criminal Matters, Yugansk has made conservatory attachments on the...shares and assets for 90 days while Yugansk makes its case for a 2.34 billion euro...including $2.2 billion recently awarded to Yugansk by a Russian court (NC Sep.29,p3...
- Baikal Buyout: Light Shed On Murky Yugansk Purchase.(Baikal Finance Group...
- Newspaper article from: NEFTE Compass August 30, 2005 700+ words
...at the end of 2004 for the purchase of Yugansk. Rosneft provided Baikal with loans worth...million more than Baikal's winning bid for Yugansk. Rosneft has never disclosed how much...sized state oil company financed the messy Yugansk purchase that has subsequently made it...
- Closing Out: Court Shelves Yugansk Claim Against Yukos.
- Newspaper article from: NEFTE Compass September 12, 2006 700+ words
...proceedings should consider all further claims. The rejection of the Yugansk debt also closes the door on all other claims. This effectively...complicate these ambitions (NC Sept.7,p3). Rosneft, with Yugansk, remains Yukos' second largest creditor with $2.79 billion...
- Riding High: Rosneft Earnings Rise With Yugansk On Board.
- Newspaper article from: NEFTE Compass February 13, 2006 700+ words
...money either way (NC Feb.9,p1). With the addition of Yugansk, Rosneft has more than tripled it's production from 15...According to Rosneft officials, production growth without Yugansk was 8%. Rosneft bought a majority stake in Yuganskneftegas...
- Yukos offers Yugansk 12.5% of shares for debts (Part 2).
- Newspaper article from: Russia & CIS Business and Financial Newswire June 5, 2006 700+ words
Yukos offers Yugansk 12.5% of shares for debts (Part 2) MOSCOW. June 5 (Interfax) - Yukos (RTS: YUKO) is offering at the end of September...
