Yukos 'fails to halt sell-off'
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Russian oil giant Yukos has reportedly lost a court case against the sale of its main production unit.
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MOSCOW  - A Russian court on Thursday rejected an appeal by the Yukos oil company seeking to overturn a freeze on the accounts of the struggling oil giant's core subsidiaries.
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Description: Russian officials make it clear they plan to proceed with an auction of oil company Yukos&#39; main production unit, despite a restraining order from a US court.
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The main shareholder in Yukos, the Russian oil company, on Sunday threatened to sue whoever buys its main subsidiary, which the government has forced it to sell by the end of this week.
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Yukos, the Russian oil group, might file for bankruptcy in the next few days unless the Russian authorities reduce the pressure they have been applying, its chief financial officer Bruce Misamore said in an interview with the Financial Times.
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Russia said on Friday it would go ahead  and sell Yuganskneftegaz, the main oil production unit of  YUKOS, despite a U.S. bankruptcy court order that seeks to halt  Sunday's auction for at least 10 days.
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A Russian court on Thursday rejected an appeal by the Yukos oil company seeking to overturn a freeze on the accounts of the struggling oil giant's core subsidiaries.
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The oil wing of Russia's state-controlled natural gas giant Gazprom does not intend to pull out of this weekend's auction of the main production unit of the embattled Yukos oil company, the ITAR-Tass news agency reported Friday.
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Russia's top oil exporter, YUKOS , slid  closer to collapse after it lost its main production unit to a  mystery buyer in a forced auction and its crude shipments  started to slow.
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Yukos&#39; main production unit, Yuganskneftegaz, could be sold off in a single-bid, closed auction in just over a month&#39;s time, a spokesman for the Federal Property Fund said Monday.
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Yukos, the embattled Russian oil company, has filed for bankruptcy protection in an American court in an attempt to halt the sale of its Yuganskneftegas oil unit.
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Russia pressed ahead yesterday with controversial plans to break up the country&#39;s biggest oil company Yukos, setting a date of December 19 for an auction of its main production unit at a bargain basement starting price of $8.65bn (Â£4.88bn).
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MOSCOW  - The planned sale of Russian oil giant Yukos' main pumping unit to pay off the parent company's back taxes won't affect production, Russia's energy minister was quoted Tuesday in news reports.
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Shareholders in Yukos are considering liquidation or filing for bankruptcy, after deciding against a rescue plan for the embattled Russian oil firm.
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Russia's wounded giant Yukos appeared to have won a three-month stay of execution after a top Russian official said its main production unit was unlikely to have its oil license revoked.
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Russia&#39;s oil giant Yukos requested to block the auctioning off of its main production unit Yuganskneftegaz in Moscow on Sunday.
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Russia said on Friday it would go ahead  with an auction to sell the key asset of embattled oil company  YUKOS despite a U.S. bankruptcy court decision to block it for  several days.