THE WALL STREET JOURNAL ONLINE
July 20, 2006 6:44 p.m.
Crude-oil futures rose on the New York Mercantile Exchange, settling at about $73 a barrel and ending a three-day slide. Here is Thursday’s roundup of oil and energy news.
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YUKOS BOSS QUITS: The president of OAO Yukos, Steven Theede, announced his resignation just hours ahead of a meeting of creditors, which he predicted would back the liquidation of the company. “There is nothing left for me to do to protect the remaining assets of the company in Russia,” he wrote. Earlier this week, his bid to stop OAO Rosneft’s IPO in London was defeated in court. State-controlled Rosneft is the owner of what was once Yukos’s most-prized asset, which the Russian government pried away from Yukos in a controversial tax case in 2004.