Kremlin approval of possible Yukos-Chevron deal depends on US

Any deal between Yukos and ChevronTexaco will take place 'only in a four-sided agreement between Chevron, Menatep, US and Russia,' said Moscow Bank analyst Kirill Tremasov. According to AKC, Tremasov said that Yukos ended up in the center of attention at the beginning of this week, primarily thanks to rumours about a possible deal with Chevron. Tremasov also said that 'such talks are possible' because it is very clear that the interested buyer Chevron is attracted by the price and the seller Menatep wants to minimize political risks and defence of its property.' Tremasov said that the sale is a 'strategic question for Russia so it can be decided positively only in exchange for another strategic concession from the US concerning the interests of the Russian business in different regions of the world.' 'The question won't be decided quickly and the rumours are most likely reconnaissance by the interested parties,' he said.

The Sunday Times and the Guardian recently wrote that ChevronTexaco could acquire a 25% share in Russian oil company Yukos and then the information was further distributed by foreign information agencies. Sources at the newspapers said the deal would be worth approximately USD 6.3 billion based on the share prices for Yukos lately. Talks began when there was doubt that Yukos could acquire Russian oil company Sibneft. The sources said that ChevronTexaco has long been interested in acquiring a stake in Yukos as a means of gaining access to the Russian market, and has now activated talks from the certainty that the merger of Yukos and Sibneft will not be easy. However, sources at Yukos deny that such talks are taking place.

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