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Yukos hit by £1.4bn loss

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Published Date: 18 August 2004
YUKOS has reported a net loss of £1.45 billion for the first half of 2004, a period of record oil prices, prompting speculation that the Russian oil firm is on the verge of declaring bank-ruptcy.
Yukos, worth nearly £19.1bn a year ago, has been ordered by the Russian courts to pay a £1.86bn bill in back taxes and penalties immediately, which the company claims it is unable to pay because a court order prevents it from selling any of its assets.



The full article contains 102 words and appears in Edinburgh Evening News newspaper.
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  • Last Updated: 18 August 2004 1:30 PM
  • Source: Edinburgh Evening News
  • Location: Edinburgh
  • Related Topics: Yukos oil
 
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