A number of the world's leading oil firms have expressed an interest in acquiring assets of fallen independent Russian oil company Yukos, Moscow officials have revealed.
Once a giant of the global oil industry and Russia’s largest independent energy company, Yukos is now poised for asset stripping having been bankrupted by crippling retrospective tax demands from the Kremlin.
While the Russian government has maneuvered to help itself to the best assets Yukos had to offer, it is now ready to auction off the rest, with major industry players apparently lining up to buy a bargain.
According to reports from the organizers of the upcoming auction, one of the most prominent interested parties is US outfit Chevron. The receiver’s office has received letters expressing interest in acquiring certain Yukos assets from a number of large international companies, including from the US company Chevron, the receiver’s press secretary said.
Several domestic companies, including Gazprom, 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.