YUKOS Resumes Negotiations With Williams

YUKOS oil company has resumed negotiations with Williams concerning the Russian company's participation on the charter capital of Mazeikiu Nafta Lithuanian concern and a long-term credit, according to the YUKOS press service report. YUKOS announced on June 15th it had signed a cooperation memorandum with Williams International Co (WIC) that has been managing Mazeikiu Nafta since 1999. The document signed stipulates two Mazeikiu Nafta share issues, and as a result YUKOS and WIC will have 26.85% each with WIC's stake diminished from its current 33%. The price of 26.85% share is $75m, and another $75m will be given by Mazeikiu Nafta as a 5-year credit. WIC earlier said it intended to stop the negotiations regarding the signing of the agreement.

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