Friday, Dec 31, 2004
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By Vladimir Radyuhin
MOSCOW, DEC. 30. Russia will give China a stake in a former Yukos oil facility that was nationalised earlier this month. China's state-owned oil company CNPC may get up to 20 percent in Yuganskneftegas, the main oil production unit of the Yukos, the Industry and Energy Minister, Viktor Khristenko, said in a statement today. Yuganskneftegas, sold at an auction two weeks ago to cover some of a $20-billion bill in back taxes slapped on Yukos, was later bought by Russia's state oil firm, Rosneft. Mr. Khristenko said that Russia might buy CNPC's assets in China or third countries under their Yukos deal. "These agreements are part of strategic agreements between the Russian and Chinese leadership on the expansion of their partnership in the energy sector,'' he added. India's Oil and Gas Minister, Mani Shankar Aiyar, said during the Russian President, Vladimir Putin's visit to India earlier this month that ONGC would bid for Yuganskneftegaz, but apparently changed its mind later.
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