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
Excerpts
About Yukos
Yukos had been formed on April 15, 1993. The acronym "YUKOS" was derived from the two original Soviet-era companies from which it was formed: Yuganskneftegas - one of Russia's largest oil producers located in Western Siberia; and Kuibyshevnefteorgsintez - a major refining and petrochemicals concern based in the city of Samara (formerly called Kuibyshev) on the Volga River...
From Menatep Bank to Yukos Oil
In 1992, after the collapse of the Soviet Union, Russia found itself with a weak and inexperienced central government. The economy was controlled by powerful managers of state-owned enterprises...
The fall of Yukos
In July 2003, Platon Lebedev, a Yukos shareholder and chairman of Menatep was arrested for using deception in the 1994 privatization of a Russian fertiliser company, Apatit, and was charged with theft of state property...
The Political Factor
The "Yukos affair" was described in many media reports as a politically motivated Kremlin attack against the country's super-wealthy known as the "oligarchs. The Kremlin clearly perceived Khodorkovsky as a threat. Many believed the claims against Yukos lacked substance...
Concluding Notes
On June 17, 2004 at a press conference in Tashkent, Putin declared that the Russian government had no interest in the bankruptcy of a company like Yukos. Most analysts believed that the government might opt for temporary renationalization...
Exhibits
Exhibit I: 2000 Incremental Tax Assessment for Yukos
Exhibit II: Yukos Commitment to Corporate Governance Principles
Exhibit III: Khodorkovsky: The Charges
Exhibit IV: Yukos Oil Company - Consolidated Balance Sheets
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