Tuesday, January 22, 2008

Rosneft's returns boosted by theft of Yukos

Nice headline from EnerPub:

What is often under-emphasized is the extent to which this daylight robbery has contributed to Rosneft's value, turning an under-achieving, mismanaged producer into the country's #1 oil company

I have spent years writing and publicly speaking about the economic motives behind the Russian government's campaign of persecution against Mikhail Khodorkovsky.

I argued repeatedly that the unlawful expropriation of Yukos, the market value of which was estimated to be around $200 billion, was methodically placed into government hands, in particularly the state oil company Rosneft, which is overseen by the top presidential adviser Igor Sechin (one of the architects of Khodorkovsky's show trial)....MORE

These guys make Greenspan, and his shenanigans, look like a punk kid.
Here's another via Bloomberg:

Deripaska Received $4.6 Billion Rusal Dividend, Vedomosti Says
Oleg Deripaska received $4.6 billion in 2006 dividends from his Rusal aluminum maker, Vedomosti reported, citing a bond prospectus for fellow billionaire Viktor Vekselberg's Renova Holding company.