Yukos - The Fall of a Russian Oil Giant
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Case Code: ECOA114 Case Length: 14 Pages Period: 2000 - 2003 Pub Date: 2004 Teaching Note: Not Available |
Price: Rs.300 Organization : Yukos Industry : Oil and Energy Countries : Russia Themes: - |
Abstract Case Intro 1 Excerpts
Abstract
Yukos is one of Russia's largest and fastest growing, publicly traded, and fully integrated petroleum companies. Under the leadership of Mikhail Khodorkovsky, it has become Russia's second largest oil corporation implementing global best practices such as:
(1) good corporate governance and transparency;
(2) improving efficiency and performance; and
(3) creating value for its shareholders, customers and employees.
But in mid- 2004, the Arbitration Court of Moscow ordered Yukos to pay RUR 99.3 billion, or about $3.4 billion for the taxes and penalties that were unpaid in 2000. Most of Yukos' assets and major subsidiaries have been frozen.
This has pushed Yukos into a liquidity crisis. Many analysts perceive the move as a politically motivated Kremlin attack against oligarchs. The case discusses in detail the crisis facing Yukos against the backdrop of Russia under the leadership of Putin.
Contents
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Introduction
About Yukos
From Menatep Bank to Yukos Oil
The Fall of Yukos
The Political Factor
Concluding Notes
Exhibits
Keywords
Tax payments, Politics, Accounting, Yukos, Khodorkovsky, Platon Lebedev, Menatep Bank, Russian oligarchs, Roman Abramovich, Apatit, Russian oil industry, Vladimir Putin, YukosSibneft, Kremlin, Capitalism
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