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!  

Find out more about Community Resilience. See our COMMUNITIES page
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.

 

This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.


Peak Oil Review - Apr 20

Weekly review including Oil and the Global Economy, The Middle East & …

The Great Burning   

What will we do when the Great Burning comes to an end?

The Renewable Revolution

Don’t hold your breath, but future historians may look back on 2015 as …

Peak Oil Notes - Apr 16

Oil prices surged this week.

Putting the Real Story of Energy and the Economy Together

 What is the real story of energy and the economy? We hear two …

Fracking Increases Radon Gas Hazard, US Study Finds

Another major U.S. health study has found that the hydraulic fracking of …

How Conservative Texas Took The Lead in U.S. Wind Power

Innovative government policies have helped propel Texas into the forefront …