Surgut drops first hint of interest in Yukos assets

0 Comments | AFP, September, 2004

MOSCOW (AFP) — Awash in petro-dollars and friendly with the Kremlin, Surgutneftegas dropped its first hint that it was ready to bite into the prized asset of its embattled oil rival Yukos.

A top official for Russia's number four producer in assets and production said he could not exclude bidding on Yukos's crown jewel Yuganskneftegaz once its auction price was announced by the state.

Analysts said Surgut was the only Russian company rich enough to make the purchase and that President Vladimir Putin and his entourage of secret service agents and Soviet era officials would be delighted with the transaction.

Troubled Yukos faces a forced state auction of Yuganskneftegaz to pay off some 7.5 billion dollars (6.25 billion euros) in back taxes that are likely to...