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Yukos' Angarsk refinery posts 58% net profit rise in 2006

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MOSCOW, April 9 (RIA Novosti) - The Angarsk petrochemical company, owned by the bankrupt oil firm Yukos [RTS: YUKO], said Monday its net profit, calculated to Russian Accounting Standards, increased 58%, year-on-year, in 2006, to 3.59 billion rubles (about $137.9 million).

The Angarsk petrochemical company, based in the Irkutsk Region in East Siberia, will be auctioned off along with Yukos' other East Siberian assets May 3, with an initial lot price of 166.34 billion rubles (about $6.39 billion), the Federal Property Fund earlier said.

Yukos, once Russia's largest oil company, was declared bankrupt August 1, 2006, after three years of litigation with tax authorities over the company's tax arrears.

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