Rosneft sues Yukos for nearly 11 bln dlrs

0 Comments | AFP, March, 2005

MOSCOW (AFP) — The Russian state oil company Rosneft has filed two lawsuits against rival Yukos to recover almost 11 billion dollars (8.2 billion euros) in alleged management errors at the production unit Yuganskneftegaz.

"Rosneft filed two lawsuits on behalf of Yuganskneftegaz," a former Yukos subsidiary acquired in a disputed auction in December, a Rosneft spokesman said Tuesday.

Yukos rejected the allegations in a statement, adding that it still considered Yuganskneftegaz to be a Yukos asset.

"Yukos has still not received any formal notification that 77 percent stock ownership of Yuganskneftegaz has been acquired by Rosneft.

"As a result, Yukos still considers that Yuganskneftegaz continues to be a legitimate asset of Yukos, and Rosneft has...