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. Last Updated: 07/27/2016

Enel Paper Ad Confuses Gazprom with Yukos

Italian energy firm Enel slipped up in an advertisement published on Tuesday that said it would bid for the assets of Gazprom, instead of bankrupt oil firm Yukos.

The glitch, which comes as President Vladimir Putin starts his trip to Italy on Tuesday, was made in a full-page advertisement in Rossiiskaya Gazeta, trumpeting Enel's plans to invest up to 4 billion euros ($5.27 billion) in Russia.

"Together with Italian oil group Eni and our Moscow partner ESN, Enel will also take part in auctions for the right to buy some of the companies of Gazprom, such as Arcticgas and Urengoil, which control large methane deposits," Enel said in the advertisement0.

Enel's spokeswoman in Rome said the ad's text in Italian that was sent to the newspaper did not contain the word "Gazprom" in that paragraph and was added when it was translated into Russian by the newspaper. A spokesman for PBN, which handles Enel's public relations in Russia, declined to comment on the error.

The assets of Yukos will start going to auction from this month as part of the bankruptcy procedure, which the firm has repeatedly said is a Kremlin plot against its politically active shareholders. Arcticgas and Urengoil will be sold along with Yukos' 20 percent stake in Gazprom's oil unit, Gazprom Neft, on April 4.

The starting price is set at $5.54 billion, and Gazprom is widely seen as the most logical contender and likely winner of the assets, but it has yet to win them. Rosneft is also seen as one of the top contenders for the assets.