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.


An Industrial Strategy for Energy

What’s also clear is that while nuclear power is tending to get more …

South Australia’s Electricity Price Woes are more Due to Gas than Wind

The past few weeks have seen extraordinarily high wholesale electricity …

Former Inspectors Describe Dangerous Flaws in Construction of Major East Coast Gas Pipeline

In April, a massive explosion ripped through rural Salem Township, …

Northwest Tribes Band Together to Stop Oil-by-Rail

There’s no such thing as a good place for an oil-train derailment, but …

The Role of Development Banks in Energy Transition  

Multilateral Development Banks (MDBs) like the World Bank, the African …

Peak Oil Review - July 18 2016

 A weekly roundup of peak oil news, including: -Oil and the global …

M. King Hubbert and the future of peak oil

A new biography reveals the man most associated with the idea of peak oil to …