Watcing the World: Yukos faces new squeeze

If the arrest, trial, and sentencing of former OAO Yukos Chief Executive Mikhail Khodorkovsky have had any meaning whatsoever, it has been lost on most people in the oil industry.Indeed, the jailing of Russia’s formerly richest man on charges of fraud and tax evasion was widely viewed as punishment for his political ambitions and, worse, as part of a drive by the government for control of the crucial oil industry.State oil firm OAO Rosneft already owns Yukos’s former main production unit and is believed to be eyeing the company’s remaining 600,000 b/d of production capacity and a major refinery. Russia’s efforts to take control of that industrial cash cow, however,...

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