Yukos and the geopolitics of oil

[Tinoire]

Yukos and the geopolitics of oil

For sale: an oil company, heavily tarnished. One careless owner, who may sue the successful buyer. Price: surprisingly low to the right bidder. Non-Russians need not apply.

Tempted? Probably not, but then the Russian Government isn't really looking to draw a crowd to the 19 December auction of Yuganskneftegas.

Three companies are interested in Yuganskneftegas; another may pitch in at the last minute; but the likeliest winner - gas monopoly Gazprom - is not in serious doubt.

Much has been made of the political implications of the hounding of Yukos, the company that owns Yuganskneftegas.

In fact, the real interest is economic: the dismantling of Yukos and the aggrandizement of Gazprom are just part of the biggest shake-up in the Russian oil business in more than a decade.

(snip)



The merger of Gazprom and Rosneft will have three main effects.

First, it will create a company with the potential to produce one million barrels per day of oil within the next few years.

Second, it will leave Gazprom fully state-owned, diluting private shareholders - currently 62% of the total - to a minority.

Third, Gazpromneft will be the perfect vehicle for the takeover of Yuganskneftegas, which will double its potential output and make it the country's biggest oil producer by far.

(snip)

http://news.bbc.co.uk/2/hi/business/4097309.stm

[babylonsister]

1. Thanks, and I wish this was put somewhere more

noticeable and timely.

[AP]

2. My instinct is that it's better for the world if a private company doesn't

control a source of such tremendous wealth and political power.

If Gazprom ownership means de facto government ownership of that business, I think I'll sleep easier at night.

I really don't know why though. Just a hunch.

[UL_Approved]

3. Scare over the Bush regime

Now here is a little political strategy:

Russia, China, Europe, Asia, and the rest of the world know what Iraq is all about: oil takeover.

Now, supposing that Russia realizes that there are other ways than military force to perform hostile takeovers, what would they do in light of economic imperialism?

They would take the private oil firms and nationalize them to prevent a hostile takeover of said assets.

Russia sees the handwriting on the wall.

If they don't secure oil and natural gas in some way, they will be economically conquered by the United States.

Don't be too surprised when the rest of the world follows suit.

[Tinoire]

4. 4 U & AP: Russia to push on with Yukos sale

((I hope more people are beginning to catch on to why we waged a non-UN sanctioned war against Yugoslavia and the "incident" about General Jackson telling Wes Clark he wouldn't start WWIII for him btw.))

US Grants Yukos Temporary Injunction, Russia Shrugs and Continues Sale

Russia to push on with Yukos sale

Yukos has won the injunction, but the auction looks set to go ahead
Russia has said it will auction off a key production unit of embattled oil company Yukos as planned this weekend despite a US court injunction.

Authorities aim to sell Yuganskneftegas on Sunday, 19 December, to pay Yukos' $27.5bn (£14.2bn) tax bill.

On Thursday, a US bankruptcy judge granted a temporary injunction blocking the Yuganskneftegas sale.

(snip)

Yukos sought bankruptcy protection under US Chapter 11 legislation on the grounds that the sale of Yuganskneftegas would seriously affect shareholder value and in the belief that the US judiciary was willing to protect the value of shareholders' investments.

But Russian officials said the Houston court had no jurisdiction in the case and called the ploy a "nonsense".

It argued that US bankruptcy law gives worldwide jurisdiction over a debtor company's property.

(snip)

In her ruling, Judge Clark wrote that investors in Russia, the US and elsewhere need to know that when they invest in foreign enterprises "they may do so without fear that their investments may be the subject of confiscatory action by agencies of the foreign government".

(snip)

http://news.bbc.co.uk/2/hi/business/4099673.stm



Oh the wonders of globalization!

The injunction was also issued against the banks that are planning to finance the deal.

[UL_Approved]

5. Thanks, and good post

This is great. The first BBC article you posted was a bunch of grandstanding about Russian involvement.

This second post brings it home. The U.S. wants to control the world, and there is no question over that. But this is the hard proof of it. Bush wants a takeover of all assets. When he can't use jackboot power to get it, he turns to the economic advisers, courts, and other legal/financial henchmen.

I realize that this is preaching to the choir as a reply, but I hope that more people here see this.

This really does need to get nominated for the front page. This is as big of an issue as there is right now. This is proof of the world distancing itself from the U.S.

[Tinoire]

6. I hope more people read it and think about it too...

I don't think it's an exaggeration to say that we're in for a world of hurt when you consider all the other stakes various countries are driving into us now.

We are in an economic/resource war with most of the entire world. The only ones standing with us are Israel (kind of) and the "coalition of the coerced". Very shaky ground for America. Here's hoping for peace because I believe it's our only hope.

On edit... Thanks for being part of DU and the effort to stop this madness.

[UL_Approved]

7. That is the first time anybody said that to me

" On edit... Thanks for being part of DU and the effort to stop this madness."

Some people compliment me on being so paranoid, but most laugh or ignore.

I keep hoping I am as full of myself as my detractors claim me to be. The world would be far better off if I were spouting the tin-driven ramblings of a lunatic. Here's hoping I'm uninformed and off-base!

Seriously, though, the Israel/Blair thing won't save us. Bush wants to go Hitler and have conquering with muscle (literally) here and abroad. He doesn't see the extent to which the rest of the world can shut us down. After all, if Bush can't get a hold on Iran, and if he loses Saudi Arabia for one reason or another, he's done. I just regret having to take the fall along with the fool.

[Tinoire]

8. Save us? Lol, I was clumsy in that case

I have no illusion that they can either save or help. If anything their "help" is making things worse. They not only won't save us, they're going to wither from the same death throes. The sun is rapidly setting on the British Empire and neither of its 2 colonial off-spring will be able to make that that sun rise again.

The Anglo-Zionist axis (I consider US and Anglo as the same) is finished. What is unfortunate is that we won't let it happen gracefully and quietly, intelligently, transition to a different system. Instead we panic & keep desperately clutching and attacking everything, everyone around us as if it's their job to stop us from drowning in our own shit.

Celine has a great book called "Death on the Installment Plan". Have you read it? Its very title is so appropriate to our situation as are its "descriptions of army brutality, urban poverty, everyday stupidity and greed, and the power of obsession and hatred".

I read it long ago but have a strong desire to read it now, with a little more depth.

Peace to you. Will be looking for your posts.