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. Last Updated: 07/27/2016

Rosneft Plans More Yukos Bids

Rosneft would like to acquire nearly all of the bankrupt Yukos oil company's production units, as a series of auctions to liquidate the company continues, Russian news agencies reported Wednesday.

"We are interested in practically all Yukos' production assets," Rosneft vice president Mikhail Stavsky was quoted as saying by Interfax and RIA-Novosti. He did not provide further details.

Stavsky's comments appeared to indicate that the state-controlled oil company was set on buying not only Yukos' refineries, which Rosneft sorely needs, but much -- if not all -- of its remaining production of nearly half a million barrels per day.

The remarks came a day after Rosneft won an auction for nearly 10 percent of its own shares that had been held by Yukos. The firm made a $7.6 billion bid via a subsidiary -- about 10 percent below the market value of the shares.

Rosneft has lined up $22 billion in Western loans to fund its participation in the auctions, which mark the end of a politically-charged campaign that saw Rosneft buy Yukos' main production unit in December 2004 after it was auctioned off against disputed back tax bills.

n Italian energy company Enel confirmed Wednesday that it intended to bid in the April 4 auction for Yukos' gas units, as part of a push to increase its presence in upstream gas projects.

Enel is looking to "participate in the upstream gas with the auction of Yukos in the first part of April," CEO Fulvio Conti said in London.