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Major oil companies in Romania, fined with 3 percent of turnover made in 2010

The Competition Council penalized the main oil companies in Romania with fines as much as 3 percent of their turnovers made in 2010, following an investigation made on the fuel market, the representatives of the oil companies told Agerpres on Tuesday.

Last year, a investigation run by the Council on the fuel trading market was split into two different investigations. the concluded investigation is about an understanding in 2010 between the companies operating on the fuel trading market regarding the withdrawal off the market of the petrol type Eco Premium. The companies in question are OMV Petrom, Rompetrol, MOL, Agip and Lukoil.

In the second half of December, the investigative team presented the report and the lawyers of the companies presented their viewpoint.

On November 16, 2011, OMV Petrom announced Bucharest Stock Exchange that they received a report of investigation from the Competition Council regarding the alleged breaching of the competition regulations, following their withdrawal off the market of Eco Premium (lead-free petrol enriched with lead substitute).

According to OMV Petrom, during the period of the alleged breaching, Eco Premium represented about 2 percent of the Romanian fuel market. The company also claimed that the withdrawal off the market of Eco Premium relied on matters of environment and economy.

Sursa: http://www.agerpres.ro

Tags: market percent companies

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