While Yukos tries to survive without its core production unit Yuganskneftegaz

Sunday, January 24, 2021

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While Yukos tries to survive without its core production unit Yuganskneftegaz, which Rosneft bought recently, the state may sell off other Yukos assets, experts have told Gazeta. Although Yukos board chairman Viktor Gerashchenko thinks that his company can exist without Yuganskneftegaz, other top managers disagree. Samaraneftegaz will be sold this spring, a source in the holding said recently. The governor of the Samara region, Viktor Kress, said January 27 that he was negotiating the resale of Tomskneft, another Yukos subsidiary. Unlike Yuganskneftegaz, which has become a state-run company, both Samaraneftegaz and Tomskneft could pass into private hands. Surgutneftegaz, Sibneft and LUKoil could raise enough funds to buy them. Nonetheless, TNK-BP is the front-runner for Samaraneftegaz, Dmitry Tsaregorodtsev, an analyst with Rye, Man & Gor Securities, noted. According to analysts, Tomskneft boasts an impressive growth potential, so it would find it more profitable for the authorities to sell off this asset after Yuganskneftegaz. Bureaucrats might decide to sell Yukos oil refineries after auctioning off the company's production units. The sprawling Angarsk petrochemical company not far from the Russian-Chinese border is the most attractive refinery and may cost more than $400 million. At the same time, it seems that Yukos owners and managers have already given up their company. Their recent actions, such as international-court lawsuits, merely aim to show that everything has been done to keep the company afloat and so avoid new lawsuits from minority shareholders

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