Following on from the recent announcement in Russia that the remaining assets of the bankrupt former oil giant Yukos would be sold off, the CEO of Italian energy outfit Eni has revealed that his company intends to enter the bidding, AFX news has reported.
According to Paolo Scaroni, the chief executive of Eni, the Italian oil major will bid for assets from Yukos divisions Articgas and Urengoy within the next 30 days.
AFX news reports that the bid for Arcticgas will be made in partnership with Enel and Russia’s ESN. No details have been released regarding potential collaborators on the bid for Urengoy assets.
Several domestic companies, including Gazprom, and international players, such as ChevronTexaco, are also believed to be considering bids for Yukos holdings. It is estimated that up to $22 billion worth of Yukos assets could be auctioned off. These include refineries, petrol stations and company stakes.
Yukos was one of the globe’s largest oil companies until it was bankrupted by massive retrospective tax demands from the Russian government.