Yukos: Government revokes orders concerning Yukos asset sales
Posted: 29 July 2004
Yukos said today that its three main production units received notification from the Ministry of Justice revoking earlier orders prohibiting disposal or change of assets' status.
"The decision of the Ministry of Justice to revoke its previous orders is consistent with our understanding of the government intentions with regards to oil production and distribution, and is welcomed by Yukos," said Yukos Chief Executive Officer Steven Theede. "In a larger sense, we continue to work toward a satisfactory resolution of the tax issues and remain hopeful that one can be achieved."
Yukos' three subsidiaries, Yuganskneftegaz, Samaraneftegaz, and Tomskneft, each received letters from the Ministry of Justice dated July 28 2004 saying that earlier orders prohibiting disposal or change of assets' status had been revoked. At the same time the Ministry of Justice reflected in the letters that it had prohibited to another branch of the Ministry of Justice responsible for registration of transactions with immovable assets to register any transactions with immovable assets of the said subsidiaries of the Company.
For more information see www.yukos.com
Posted by Richard Price,
Editor Pipeline Magazine
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