Support The Moscow Times!

Bashneft, LUKoil Appeal

Bashneft and LUKoil's Bashneft-Polyus venture appealed a decision by subsoil agency Rosnedra to revoke development rights at the Trebs and Titov oilfields in northern Russia.

Moscow's Arbitration Court will hear the case June 28, according to its website. Rosnedra canceled an order that allowed Bashneft to transfer the field licenses to its venture with LUKoil, Bashneft said May 22.

Bashneft set up Bashneft-Polyus to develop the licenses and agreed to sell LUKoil 25 percent for 4.77 billion rubles ($146 million) last year. LUKoil agreed to sell 29 wells at the deposits to the venture for $60 million.


… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.


Read more