Hello Taikun, <<Canadian coal bed methane company doing exploration in Mongolia.I would have thought China would be all over this>>
I think Mongolia is a goner, whether the US has a 400-folks embassy or simply sends down someone from Moscow once per month.
On energy, what did we discuss about Yukos ;0)
As in Hmmn, Jay, what did you know and when did you know it?
Message 20185765
<<June 2nd, 2004 … I think YUKOS is finished, only the looting remains unfinished …>>
Message 20368494
<<August 1st, 2004 … <<YUKOS up 30% last several days. Would you have any information from your Russian sources?>>
nope, afraid not, and even if I did, I would still be afraid>>
Message 20570381
<<September 27th, 2004 … The Chinese are officially denying that they are interested in buying the core / heart of YUKOS russiajournal.com .
We know what official denials mean, do we not?
If another large resource deal (i.e. Noranda +) gets done by China using printed USA paper, that would set off all the bells everywhere on resource value, and ... well, TeoTwawKi gets closer, and plenty of TwoAPuc to go around achamchen.com >>
Message 20651885
<<October 17th, 2004 … (b) It is also conceivable that a plop of YUKOS will go to China, but via a local Russian intereim buyer so value is extracted from existing shareholders. There are not amany Russian Chinese around yet, and so the deal would have to be blessed and must benefit the Kremlin; and …>>
Message 20674027
<<October 27th, 2004 … My guess is that China is trying to buy a sliver of YUKOS.>>
Message 20797389
<<November 24th, 2004 … The YUKOS shareholders are officially fcuked, so that the ruling class can benefit, but there is no percentage in selling the goodies to the multinationals or even another Russian firm. The percentages must come from elsewhere in the black world of crude. But you knew that, as I guessed at the possibilities by getting in tune with the Force, tapping the Energy, and modulating the Power.
Whether it will be or not is an open question. Whether arrangements has been discussed is not so much a secret. Many will get much wealthier, should what ought to happen in fact occur.
Should all go as it should, a new age will have dawned on the resource world and we get that much closer to TeoTwawKi.>>
Message 20802345
<<November 26th, 2004 … Let's see how that YUKOS baby flips.
I figure these are the simple rules for the next 10 years ...
On energy, buy the dips.
On metals, buy the dips.
On food, buy the dips.
Thank you Maestro Greensputin and Charlatan BurnAndKaput, the Blacksheep of Central Banking>>
news.bbc.co.uk
Putin hints at Yukos China link
China could play a part in developing the oil production assets of Russian firm Yukos, which were sold to a mystery bidder on Sunday.
Chinese involvement in the future of Yuganskneftegas could not be ruled out, Russian President Putin said.
He also confirmed that state gas firm Gazprom would co-operate with China's China National Petroleum Corporation (CNPC) on various energy projects.
Mystery continues to surround the ownership of Yuganskneftegas.
Surgutneftegas, Russia's fourth-biggest oil producer, is now said to be behind the surprise buyer - the little-known Baikal Finance Group.
Yuganskneftegas was sold in a forced auction after being seized by bailiffs demanding that Yukos pay $27bn (£14bn) in taxes and fines.
View from the top
We don't rule out that CNPC would take part in the production of Yuganskneftegas
President Vladimir Putin
Speaking during a trip to Germany, President Putin suggested that China - a major buyer of Yukos oil - could play some rule in the unit's future under its new owner.
"We don't rule out that CNPC would take part in the production of Yuganskneftegas which was sold at an auction," he said.
According to the Financial Times, President Putin said that the Chinese firm had not taken part in the controversial auction but had recently signed a memorandum of co-operation with Gazprom regarding oil projects in Russia.
Gazprom had been considered favourite to acquire Yuganskneftegas.
Many analysts believe it will ultimately end up controlling the asset, which produces 60% of Yukos' oil output.
Gazprom told the Financial Times: "There is a real energy boom in Asia and particularly in China. In developing Gazprom....the eastern direction has been identified as a priority."
Interested individuals
President Putin had earlier shed some light on the ownership structure of Baikal, saying that the shareholders in the company were "exclusively individuals".
"These individuals have been in the energy business for many years," he explained. "As far as I have been informed, they intend to build relations with Russia's other energy companies interested in this asset."
He also gave his backing to the auction, dismissing claims by Yukos and its shareholders that the assets had been illegally seized.
"As far as I have been informed, the auction conformed completely with current Russian law," Mr Putin said following his meeting with German Chancellor Gerhard Schroeder.
"I expect that all other activities in this area in the future will also take place according to law. "
But the White House later condemned the handling of Yukos, warning the affair could have a "chilling effect" on foreign investment in Russia.
Muddied further
The initial reaction of newspapers and analysts to Baikal's winning bid in Sunday's auction was to claim that Baikal was a front for state-controlled gas company Gazprom.
They said that by hiding behind Baikal, Gazprom would be able to avoid an US court injunction that barred the firm, and foreign banks, from taking part in the auction.
One problem thrown up by this scenario was how Gazprom would find the 261bn roubles (£4.8bn; $9.4bn) Baikal had agreed to pay for Yuganskneftegas.
The real buyer of Yuganskneftegas could be a consortium of Surgutneftegas and Gazprom. Each company had about $5bn available
Gazeta newspaper
According to Russian papers on Tuesday, cash-rich Surgutneftegas has provided the solution.
"The real buyer of Yuganskneftegas could be a consortium of Surgutnftegas and Gazprom," the daily Gazeta said. "Each company had about $5bn available at the moment of purchase."
The firm is either working alone or in partnership with Gazprom, the papers allege.
Yukos pledge
Gazeta says that the director of Baikal, Valentina Davletgareyeva, is a shareholder of two companies affiliated with Surgutneftegas, while at the auction Baikal was represented by Surgutneftegas employee Igor Minibayev.
Gazprom has denied that it is behind the purchase.
Yukos has said it will fight to keep control of Yuganskneftegas, claiming that the sale of its main production unit will lead to the dismantling and collapse of the company
Yukos claims that the political ambitions of its founder, Mikhail Khodorkovsky, have led to it being targeted by the administration of Russian president Vladimir Putin.
Story from BBC NEWS:
news.bbc.co.uk
Published: 2004/12/22 08:19:12 GMT
© BBC MMIV
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