10 May 2007 - 18:43
  • News Code: 104282
Rosneft Buys Yukos Remaining Oil Assets

MOSCOW -- A subsidiary of Russia"s oil giant Rosneft won an auction Thursday for the last remaining oil assets of the bankrupt Yukos for 165.5 billion rubles (some 6.4 billion U.S. dollars), the Interfax news agency reported.

The Neft-Aktiv, on behalf of Rosneft, won the 10-minute auction for the array of assets in southern Russia"s Samara region, including the Samaraneftegaz production unit, the Kuibyshev Oil Refinery, the Novokuibyshev Oil Refinery and the Syzran Oil Refinery, Interfax said.

 

The state-controlled Rosneft has won a bid for the major oil assets of Yukos in east Siberia last week, which made it the country"s largest oil producer.

 

Yukos, once Russia"s leading oil company, was declared bankrupt in 2006. The company was largely dismembered by the state after failing to pay over 25 billion dollars in back taxes and fines, and its founder Mikhail Khodorkovsky was arrested in 2003 on tax fraud charges.

 

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News Code 104282

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