Yukos oil history books

At that time khodorkovsky was one of the worlds richest and most powerful men, while yukos had been transformed into a vast and lucrative oil company that was set to go global. Fascinating historical book about the tragedy of yukos. The notorious yukos oil company case, which has been ongoing since early. Analysis a lifetime of litigation the fall of yukos seven years have passed since russia began the campaign against yukos oil company that led to the renationalisation of a business controlling. Russian tax authorities say they are to audit yukos s books, as the investigation into the apatit deal is dramatically widened. We are trying to ensure that you do not put us in any trouble, and likewise, we shall provide you with an input as an entity with no history to the investment, only as a management consultant.

By that time khodorkovsky had become one of the worlds richest and most powerful men, while yukos had been transformed into a verticallyintegrated oil company that was set to go global. Whats really happening with the yukos case foreign policy. When the yukos scandal first broke, foreign investors became wary that russia would begin rolling back privatization measures made during the 1990s. Mikhail khodorkovsky, the head of the yukos oil company, was arrested on 25 october 2003. Yukos oil company was a petroleum company in russia which, until recently, was controlled by russian billionaire mikhail khodorkovsky and a number of prominent russian businessmen. At the time, yukos did not look to be such a wonderful deal. It isnt always a flattering portrait, writes derek. With unparalleled insight into bp and its safety record leading up to the disaster in the gulf of mexico, tom bower gives us a groundbreaking, indepth, and authoritative twentyyear history of the hunt and speculation for our most vital natural resource. Mikhail khodorkovsky, the head of the yukos oil company, was.

Congress has been very generous in its support of our effort to give russias next generation of leaders a brief but intensive professional and personal. Putins oil is the story of russias energy wars and their consequences for moscow and the world. On all counts, this looked like a success story for russia, but it was precisely at this moment that the. Yukos investors settle with rosneft, russias state oil.

Yukos saga continues as largest arbitration awards in history are set aside. Yukos saga continues as largest arbitration awards in. The decision ends a threeyear court battle for survival, after yukos was hit with a huge back tax bill. Yukos claims asylum in texas the journal newcastle. The arrest of mikhail khodorkovsky, the oil magnate who is russias richest man, is a turning point in russias postsoviet history. Between 1996 and 2003 yukos became one of the biggest and most successful russian companies, producing 20% of russias oil output. Standard oil and yukos in the context of early capitalism in. That has the kremlin apoplectic and threatening reprisals. Russia prides itself as one of the largest producers and exporters of oil in the world, providing nearly 12 percent of the global supply. The net proceeds of the liquidation, less any reserves for expenses, will be deposited into the distribution fund. I have a very sensitive and confidentialbrief from this top. Russias mikhail khodorkovsky put on international wanted list the former ceo of russias yukos oil company has been arrested in absentia on charges of organizing murders. Mikhail khodorkovsky, the chair of yukos, then the largest oil company in russia, was arrested at gunpoint and imprisoned.

It absorbed most of yukoss valuable assets after the yukos founder was arrested in 2003. A lawsuit seeking class action status has been filed in the united states district court for the southern district of new york on behalf of all persons who purchased the publicly traded securities of yukos oil company otc. Mass communications international relations confiscations laws, regulations and rules private banking tax havens tax policy. Standard oil and yukos in the context of early capitalism. Oil giant yukos and the struggle for russian energy sources by ulrich rippert 10 january 2005 on december 23, the american government renewed its.

Published in october 20 in the book, mikhail khodorkovsky draws. In this book, the author examines the rise and fall of yukos and considers the relationship between putins state and big business during russias traumatic shift from the soviet planned economy to capitalism. A new hope for the yukos shareholders pca awards revived. In this book, richard sakwa examines the rise and fall of yukos, and the development of the russian oil industry more generally. From being one of the worlds richest and most powerful men, khodorkovsky became putins prisoner. Written by martin sixsmith, former bbc moscow correspondent, this book focuses on mikhail khodorkovsky, owner of yukos, once the countrys oil firm and considered the key to russias economy. At the centre of the controversy surrounding the reversal of awards in the yukos cases is the provisional application laid down in article 45 of the energy charter treaty ect, which allows a signatory to unilaterally undertake to give affirmative legal effect to the obligations under the ect on a voluntary and provisional basis. Yukos was acquired from the russian government by russian oligarch mikhail khodorkovskys bank menatep during the controversial loans for shares auctions of the mid 199. Menatep, which owns 60pc of yukos shares, has threatened to sue anyone who buys yugansk. Oil giant yukos and the struggle for russian energy. An american citizen, simon kukes, was named the new chief ceo of the russian oil company, yukos, after his predecessor was arrested on charges of tax evasion, embezzlement, and theft. The following month, it was reported that some individuals established themselves as the new management of yukos.

Oxford university and coeditor of a book on russias postcommunist economy, pointed. Menatep increases control of yukos to more than 90 per cent. Feb 01, 2010 dont ask why i am interested in things that seem so distant from the daily life of most of us. Everybody must be safe now and in the future, hence the questions. On all counts, this looked like a success story, but it was precisely at. Jun 19, 2015 the yukos arbitration decision in a nutshell. However, recent history of the russian oil development reveals numerous challenges that, if not addressed properly, threaten to result in inevitable decline of the oil industry. Although almost one hundred years apart, the standard oil and yukos cases are comparable in so far as they erupted in the context of early capitalism in a weak institutional environment. The arrest of mikhail khodorkovsky, the head of the yukos oil company, on 25 october 2003, was a key turning point in modern russian history. And in 2001, khodorkovsky and yukos shareholders also created the yukos funded open russia foundation, with a view towards sustainably building and strengthening civil society in russia.

Yukos commented on its web site that, we can only assume that this action against him is a direct result of his accepting a position to work to protect yukos oil company and its legitimate stakeholders. The yukos cases and the provisional application of the. The author compares two conflicts between large businesses and the state in the united states and russia. Most of yukos was absorbed by what was once the runt of russias oil industry. A case study of success and failure in an unstable institutional environment article pdf available in journal of change management 103 september 2010 with 1,204. The saga has seen former yukos chief mikhail khodorkovsky jailed and parts of the oil firms empire sold off. The kremlins plan for a huge, bureaucratic state oil and gas corporation is far removed from khodorkovskys vision of yukos as a worldclass, transparent, publicly quoted oil company, working for profit, and willing and able to forge close links with the global oil companies. Sakwa analyses russias emergence as an energy superpower, and considers the question of the natural resource curse and the use of energy rents to bolster russia as a great power and to maintain the autonomy of the regime. In november 1909, the first court announced its decision to dissolve standard oil of new jersey, which standard oil immediately appealed to the u. Russia are several international court and arbitral cases seeking compensation from the government of russia to the former shareholders of yukos based on the claim that russian courts were not acting in good faith in launching tax evasion criminal proceedings against yukos, which led to the bankruptcy of the company. Yukos and sibneft sign agreement to merge production operations into single. What a shame the man responsible for its success was forced out and put sent to prison for what others.

Oao nk yukos is the second largest of russia s integrated oil companies, with an estimated 11. It is headquartered in moscow and its oil reserves 14. The yukos group has been liquidating assets and pursuing various legal claims with the ultimate goal of making a series of cash distributions to former shareholders of yukos oil company. Yuko yukos between february, 2003 and october 25, 2003 inclusive, the class period. Taxation and expropriation the destruction of the yukos oil empire. Welcome to the yukos claims administration website.

The company had become the secondlargest taxpayer in russia after the state gas monolith gazprom, contributing 4. The legal implications of yukos s move remain unclear, however, as yukos has no significant us assets. His wheel of fortune stands out amid a series of recent books on russia, combining meticulous. Russias mikhail khodorkovsky put on international wanted. The saga is rooted in allegations made over a decade ago that officials had manipulated the legal system to bankrupt the yukos oil company and jail its boss mikhail khodorkovsky.

History of the world petroleum industry key dates a chronological summary of some of the key events impacting the evolution of the world petroleum industry, significant world events that had a major impact on the oil industry are indicated in dark red. Taxation and expropriation the destruction of the yukos oil. Apr 02, 2015 yukos investors settle with rosneft, russias state oil company a rosneft oil treatment plant. It may earn mr medvedev either a place in history or a footnote in the story of his predecessor, vladimir putin. Bbc news business yukos declared bankrupt by court. Mr khodorkovsky is questioned and released two days later. The case marked the rise of the newly elected russian president vladimir putins regime, and heralded much of what would become the hallmark of putins rule. Taxation and expropriation the destruction of the yukos. Putins oil relates vladimir putins war for control of russias vast oil reserves, in particular mikhail khodorkovskys oil firm, yukos. Here is a short summary of the most important points of the yukos arbitration award which former shareholders are now trying to enforce in belgium, france and other european countries.

Two russian policemen pass by the yukos oil giants logo during the controversial auctioning of some of the companys key. Yukos was one of the worlds largest nonstate oil companies, producing 20% of russian oil about 2% of world production. Yet one event in russia during the early 2000s fell into this category. Billington, who is a prominent scholar of russian history and culture. The truth is that in this sense i may have been a little late or that i could say that i knew in advance the end theory of the book.

From november 18 to 20, 1908, rockefeller gave three days of court testimony. The khodorkovsky case a new moscow show trial europe. Mar 10, 2015 following an introduction by harvard law school professor william alford 77, gaillard laid out the background to the case. The yukos affair and the struggle for russia sixsmith, martin on.

A new book tells the story of the oil industrys boombust cycle through the personalities of its main protagonists. Oct 19, 2004 leonard, vice president in charge of business development at yukos, staked his career more than 15 years ago on a dream to unlock vast oil reserves in the former soviet union, which are believed. After yukos was bankrupted, khodorkovsky was convicted and sent to prison. Four years ago, the hague district court gave an unexpected twist to the dispute between russia and shareholders of the former oil company yukos, setting aside the 50 billion usd awards issued by an investment arbitration tribunal under the auspices of the pca on grounds of russias breach of the expropriation clause of the energy charter treaty ect. Russian history can be told largely as a series of false daw ns. This case presents the history and current position of russias secondlargest oil company, yukos, as it seeks listing on the nyse as an adr and attempts to rid itself from a punishing governance discount by the capital markets. London agence francepresse control of mikhail khodorkovskys shares in the russian oil giant yukos have passed to renowned banker the rt hon lord jacob rothschild, under a deal they concluded prior to mr. Money, politics, and power in the 21st century by tom. With holdings in numerous sectors of the oil industry, the company accounts for 15 percent of oil produced and 15 percent of oil refined in russia, and also operates a domestic retail network of approximately 1,200 gas stations. Uncertain future for american working at yukos houston. Billington and mikhail khodorkovsky, yukos chairman and ceo, met today at the library to discuss the programs that yukos s gift will assist. The paper examines the two disparate approaches adopted by the. May, 2014 the arrest of mikhail khodorkovsky, the head of the yukos oil company, on 25 october 2003, was a key turning point in modern russian history. The yukos affair and the struggle for russia by martin.

Yukos oil company notice of distribution pr newswire. Oao yukos oil company case harvard business school. Funds were disbursed through philanthropic programmes and competitive grant programmes in a wide variety of educational, cultural, and social spheres. The yukos affair and the struggle for russia and millions of other books are available for amazon kindle. Its assets were acquired in controversial circumstances from the russian government during the privatization process of the early 1990s. It is not everyday that a single legal dispute becomes a turning point in a countrys history, or perhaps a determining factor in how a regime transforms itself into an authoritarian kleptocracy. This can be explained by the fact that menatep also oversaw the bidding process and that the highest.

After two controversial trials, attracting widespread. This is a company with a history of significant corporate governance abuses that is, more recently, attempting to reform its ways. Yukos was acquired from the russian government by russian oligarch mikhail khodorkovskys bank menatep during the controversial loans for shares auctions of the mid 1990s. Platon lebedev, a major yukos shareholder, is arrested and accused of having illegally acquired shares in apatit, a fertiliser company, in 1994. Yukos, the defunct russian oil giant whose dismantling a decade ago came to define a countrys flawed property rights system, announced on wednesday that it had reached a final legal settlement with rosneft, the state oil company that prospered from the breakup. Yukos takes russia to human rights court in strasbourg. Hadley began court hearings to prove that the standard oil company of indiana, the waterspierce oil company, and the republic oil company were parts of a single monopolistic conspiracy. Yukos oil s leadership gift will help realize goals i have pursued while serving as librarian of congress, said dr. Thus began a massive attack against americas largest oil company and its owners. This event proved a turning point for postcommunist russia and for vladimir putins presidency. Two russian policemen pass by the yukos oil giants logo during the controversial auctioning of some of. Although menatep did not offer the highest bid, it nevertheless won the auction. Troubled russian oil firm yukos has been declared bankrupt by a court in moscow, clearing the way for the firm to be liquidated. The arrest of mikhail khodorkovsky, the head of the yukos oil company, in october 2003, was a key turning point in modern russian history.