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11

Rosneft Buys Yukos Assets for 5 Billions

Russia's state oil giant Rosneft, offered to buy Yukos's assets in southern Russia

Russia's state oil giant Rosneft, offered to buy Yukos's assets in southern Russia for 4.9 billion rubles or $190 million after regulators blocked the company of a May auction from acquiring them.

Rosneft made the offer for Yukos's stakes in regional power utilities and an oil and gas exploration unit on June 9 and is waiting for an answer.

Rosneft has become the country's largest oil producer and refiner after buying Yukos assets at forced auctions this year.