BBC Monitoring Service: Six Russia-based oil majors not keen on buying Yukos production arm: “The British-Dutch oil giant Shell… has a similar view. ’We cannot confirm whether we are likely to take part in the auction,’ a spokesman for Shell's Moscow branch, Maksim Shub, has said.” (ShellNews.net)

Posted Oct 14, 2004

Moscow: Six major players on the Russian oil and gas market have said they have no intention to buy Yukos shares. Their spokesmen said the companies were not interested in buying out the concern's main subsidiary Yuganskneftegaz.

A source close to Sibneft has told ITAR-TASS that the company has no intention of taking part in the auction. "Sibneft is a well-balanced concern and we have no plans to buy Yuganskneftegaz," the source said.

The TNK-BP press service has also confirmed that "the company will not take part in the deal".

The British-Dutch oil giant Shell, which is working in Khanty-Mansi Autonomous Area alongside Yuganskneftegaz, has a similar view. "We cannot confirm whether we are likely to take part in the auction," a spokesman for Shell's Moscow branch, Maksim Shub, has said.

The heads of Gazprom, LUKoil and the US-owned ConocoPhillips had earlier stated their lack of interest. The head of Gazprom, chairman of the board Aleksey Miller, said last week that "Gazprom's investment plans for 2005 do not envisage such a deal". LUKoil president Vagit Alekperov has also stressed that his company is not considering purchasing the company.

ConocoPhillips CEO James Malva said on 29 September after the auction at which his company bought the controlling package of LUKoil that "this cooperation will be of an exclusive nature and the company is very unlikely to buy shares in any other Russian concerns".

Source: ITAR-TASS news agency, Moscow, in Russian

© BBC Monitoring