Overestimated Yuganskneftegaz Will Be Surely Sold

Russian beleaguered oil giant Yukos has lost an appeal against the sale of its Yuganskneftegaz production unit.

Yuganskneftegaz, which accounts for three-fifths of Yukos's output, was put up for auction after being seized to pay a tax bill totaling up to $25 billion.

Yukos claimed that the governmental officials could find another way to wheedle money out of Yukos, rather than to sell its key production unit.

Tax officials have priced Yuganskneftegaz at $8.65 billion, and Yukos affirms the price is overestimated.
Prosecutors searched Yuganskneftegaz's offices on Friday.