Source AP ©

Eni-Neftegaz wins array of assets of bankrupt oil giant Yukos

The Eni-Neftegaz company, reportedly an affiliate of Italy's Eni SpA, won an auction Wednesday for an array of assets of the bankrupt Russian oil giant Yukos, including a 20 percent stake of the oil division of state-controlled gas monopoly Gazprom.

Eni-Neftegaz paid 151.5 billion rubles (US$5.82 billion, EUR 4.36 billion) for the assets.

The Interfax news agency identified the winning bidder as an affiliate of Eni and said Gazprom had signed a call option with Eni-Neftegaz to buy the 20 percent share in Gazprom's oil division.

Other assets that Eni-Neftegaz bought in the single lot at the auction at Yukos' headquarters included the gas companies Arcticgaz and Urengoil.

Other bidders at the auction included an affiliate of the Russian private natural gas producer Novatek and a subsidiary of state-controlled oil company Rosneft. Another Rosneft subsidiary last month bought at auction a nearly 10 percent share in Rosneft that had been held by Yukos.

That purchase, and the prospect of Gazprom buying oil assets bought in Wednesday's auction, would further solidify state-controlled companies' position in Russia's vast and lucrative oil and gas industry.

Once Russia's biggest oil producer, Yukos was driven into bankruptcy after it was hit by billions of dollars in back-tax bills and its founder and chief, Mikhail Khodorkovsky, was arrested at gunpoint in 2003. In what critics called a show trial to punish him for funding opposition parties, Khodorkovsky was sentenced in 2005 to eight years in prison for fraud and tax evasion.

Yukos' main production unit, Yuganskneftegaz, was sold at auction in 2005 to a shell company that was purchased by Rosneft shortly afterward.

More Yukos assets are to go on the block in May, including the Tomskneft production unit and three refineries.

The Basmanny Court of Moscow arrested Michael Calvey, the founder of Baring Vostok investment fund, on allegations of embezzling 2.5 billion rubles from Vostochny Bank. Calvey will be held in custody until April 13

Putin informed about arrest of US investor Michael Calvey
Comments
The Great GOP Tax Cut Heist a Year Later
Smartphones and social networks not allowed in the Russian Army
Putin addresses social issues, threatens USA with Russia's new missiles in his 15th Federal Assembly speech
Trump Reportedly to Declare a National Emergency for Border Wall Funding
The Hypocrisy of the Chinese World Dog Show
UK wants Sergei Skripal dead
The Hypocrisy of the Chinese World Dog Show
The Hypocrisy of the Chinese World Dog Show
International Opposition to Attempted Trump Regime Coup in Venezuela
Homosexuality and the Decline in American Values
Russia's S-400 missiles lost in storm during transportation to China
The Hypocrisy of the Chinese World Dog Show
Putin addresses social issues, threatens USA with Russia's new missiles in his 15th Federal Assembly speech
Putin addresses social issues, threatens USA with Russia's new missiles in his 15th Federal Assembly speech
Putin addresses social issues, threatens USA with Russia's new missiles in his 15th Federal Assembly speech
New 'bill from hell' against Russia to bring hell to USA
New 'bill from hell' against Russia to bring hell to USA
Putin addresses social issues, threatens USA with Russia's new missiles in his 15th Federal Assembly speech
Smartphones and social networks not allowed in the Russian Army
The Hypocrisy of the Chinese World Dog Show
The Hypocrisy of the Chinese World Dog Show