Russians to Claim YUKOS Prize (well, maybe)

[susu369]

Russians To Claim YUKOS Prize
22/07/2004 07:21 PM
Douglas Busvine and Sudip Kar-Gupta - Reuters

Foreign oil majors will miss out on the forced sale of YUKOS's prime asset, with well-connected local firms forecast to claim the spoils - but the Russian giant's travails may already have put them off.

Plenty of western players are keen to raise their exposure to Russia, one of the few oil producers with potential to boost output and reserves.

However, analysts say, the circumstances of the YUKOS fire sale will prompt suitors to weigh up significant and hard-to-assess risks in Russia's investment environment.

"Exxon, Total and ChevronTexaco all have limited exposure in Russia, so one would expect those companies to be circling (YUKOS's main production unit) Yugansk," said Richard Rose, an analyst at Oriel Securities in London.

Full story:
http://xtramsn.co.nz/news/0,,3772-3535855,00.html