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. Last Updated: 07/27/2016

Yukos Buys Oil Stake

MOSCOW -- Russia's second largest oil producer, Yukos, has bought a 16 percent shareholding in Orenburgneft, a subsidiary of Russia's 13th largest producer, Onako, Yukos said in a statement Wednesday.

The statement gave no details of the deal or its value.

Yukos chairman Mikhail Khodorkovsky said he would look to buy more shares in Onako if privatization of the 85-percent state-owned company continued. Yukos produced 44.5 million metric tons of crude in 1999, and Orenburgneft produced 7.46 million tons.