Chinese company could take part in Yuganskneftegaz sale

0 Comments | AFP, December, 2004

MOSCOW (AFP) — Chinese oil conglomerate CNPC could be offered up to 20 percent of a state-owned Russian firm that will own Yuganskneftegaz, the main asset of the dismembered Yukos energy giant, the industry and energy minister said.

"The assets of Yuganskneftegaz will be transferred to a separate company, which will be 100 percent state-owned. Up to 20 percent of this company could be offered to CNPC," Viktor Khristenko said in a statement.

Khristenko did not identify the state-owned company that would eventually own Yuganskneftegaz, which pumps a million barrels a day and owns 17 percent of Russia's vast oil reserves.

But he indicated it would not be state-owned Rosneft which last week bought Baikalfinansgroup, the previously unknwon company that paid more...