Oiling the wheels of power

Article Abstract:

The merger between two of Russia's largest oil companies, Yukos and Sibneft, has created the country's biggest privately-held oil firm, Yuksi. The combined proven reserves of the second and seventh biggest Russian oil producers amount to 13.9 billion tons, far outstripping Royal Dutch/Shell's 8.8 billion tons and Exxon's 6.7 billion tons. The merger has brought together two of the country's most powerful moguls, Yukos CEO Mikhail Khodorkovsky and Sibneft supporter Boris Berezovsky. It has also created a politically powerful organization that has the potential to influence the choice of Russia's next president. If Yuksi succeeds in acquiring another Russian oil giant, Rosneft, it would be in a position to play an important role in influencing the outcomes of the next presidential elections.

PETROLEUM AND COAL PRODUCTS, Petroleum, Petroleum and Coal Products Manufacturing, Mergers, acquisitions and divestments, Political activity, Petroleum industry, Russia, OAO NK Yukos, Sibneft, Yuksi

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Sainsbury's rings up top prize

Article Abstract:

The year 1991 produced only one winner of the Stock Exchange and Chartered Accountants Annual Award for Published Accounts. The award for the larger company category was given to retailing firm J Sainsbury plc for its 1991 reports and accounts, which was described to be containing the elements needed in clearly projecting to shareholders their company, its business policies, and direction for the future. However, no award was given in the smaller-company category. Although it acknowledged the excellent standards achieved by the reports and accounts shortlisted for the said category, the panel chose to highlight what it perceived as deteriorating reporting standards.

Grocery stores, Achievements and awards, J Sainsbury PLC, Corporation reports, Company reports

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