Russia » Economics

"Gazprom" to buy YUKOS

Russian government-owned gas monopolist “Gazprom” will most likely agree to purchase all assets of the oil company YUKOS, if they will ever be for sale.

Head of “Gazprom”'s department of strategic development Vlada Rusakova stated to journalists that his company could buy YUKOS' assets. The latter has recently declared a possibility of going bankrupt. “If YUKOS will ever be for sale we will be involved in its acquisition one way or another—this will be possible if “Gazprom” considers such acquisition effective and profitable,” stated Vlada Rusakova.

Not so long ago, “Gazprom” informed of its decision to establish its own company, which will mainly deal with oil extraction and gas condensate and will be able to compete with such major companies as “Sibneft” and “TNK-BP”, reports BBC.

In the meantime, it has become known that Victor Geraschenko intends to head YUKOS after June 24.

Another board meeting is scheduled for the end of June. New board members will also be elected on the same day, stated Geraschenko. "If they choose me as the board's director, I will appeal the court’s decision.” Geraschenko called the verdict of Moscow's arbitrage as “unlawful”.

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China Warns Against Travel to US and Canada