Building a world of
resilient communities.

MAIN LIST

 

Main production unit of Yukos to be auctioned on Dec 19

MOSCOW : The Russian government will auction off Yuganskneftegas, the main production unit of embattled oil giant Yukos, on December 19 with a starting price of 246.75 billion rubles (8.65 billion dollars), the federal property fund announced.

The federal property fund published the details of the auction in the official Rossiiskaya Gazeta.

Earlier the justice ministry had decided to value Yuganskneftegaz -- which accounts for 60 percent of production at Yukos -- at 10.4 billion dollars, the low-end estimate provided in a separate assessment done by Dresdner Kleinwort Wasserstein (DrKW).

Yukos and the markets had expected a valuation closer to 20 billion dollars.

The markets have speculated that a low starting price could mean that the key oil asset may go to a government-linked company for a bargain-basement price, introducing a poisonous air to the Russian investment climate.

- AFP

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Make connections via our GROUPS page.
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.


Perverse outcomes: Lifting U.S. oil export ban would mean greater dependence on foreign oil

There is a case regarding market efficiency for overturning America's oil …

Is This The End Of China’s Coal Boom?

“The End Of China’s Coal Boom,” is a new, must-read …

The Age of Diminishing Returns

A Q&A with Ugo Bardi, author of Extracted: How the Quest for Mineral …

Energy Crunch: The end of business as usual for fossil fuels?

It’s the end of business as usual for fossil fuels. That’s …

Peak oil notes - April 17

A mid-week update. Oil prices in London have risen this week on concerns …

Climate Panel Stunner: Avoiding Climate Catastrophe Is Super Cheap — But Only If We Act Now

The U.N. Intergovernmental Panel on Climate Change (IPCC) has just issued …

Kashagan – Back to the drawing board?

The recent shutdown of Kashagan oil field in Kazakhstan represents one …