RIP Philo

in love with russian oil

In yet another sign of Russia's tightening grip on its energy resources, Rosneft, the state oil company, bought back the 9% stake that was held in it by Yukos, a private oil firm that was forced into bankruptcy by a “revised” government tax demand. Rosneft won the stake in the first auction of Yukos's former holdings and paid far less than the market value. The only other bidder, TNK-BP, a Russian joint venture involving BP, quit the bidding after less than five minutes.
Permalink politico 
March 29th, 2007 10:23pm

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