Offshore logo
Oil companies face price-fixing probe
Posted 15.05.2013 10:44:32 av John Bradbury
Vis RSS feed
Send nyhet til en venn
Statoil is facing a price-fixing investigation by the Norwegian Competition Authority on behalf of the European Commission which is looking into anti-competitive agreements.

Statoil says it was hosting a visit by the EFTA Surveillance Authority which is being assisted by the Norwegian Competition Authority on behalf of the European Commission and is co-operating with the authorities.

“The authorities suspect participation by several companies, including Statoil, in anti-competitive agreements and/or concerted practices contrary to Article 53 of the EEA Agreement,” stated the Norwegian operator. “In addition the inspection relates to potential abuse of possible dominant position by another party,” Statoil says. This is contrary to Article 54 of the EEA Agreement.

Suspected violations under investigation relate to market close price assessments by Platts, which are used to report market prices for crude oil, refined oil products and biofuels, and that the alleged violations may have been occurring since 2002.

But Statoil is not the only oil company in the firing line: BBC news reported last night that both BP and Shell are also facing investigations into price-fixing.

A statement issued by the European Commission reported by the online Huffington Post said: “The European Commission can confirm that, on 14 May 2013, Commission officials carried out unannounced inspections at the premises of several companies active in and providing services to the crude oil, refined oil products and biofuels sectors. The Commission has concerns that the companies may have colluded in reporting distorted prices to a Price Reporting Agency to manipulate the published prices for a number of oil and biofuel products. Furthermore, the Commission has concerns that the companies may have prevented others from participating in the price assessment process, with a view to distorting published prices.”
Advertisement
Latest news

Asset integrity expertise bought

British-based engineering expertise has been bought up by Norway's Aker Solutions to boost its integrity analysis for oil and gas assets.

[Les mer ] Company news

Sound signals big Italian gas

London-listed Sound Oil has logged a big new gas find in Italy.

[Les mer ] Exploration

Aker anchors new accommodation unit

A new offshore accommodation unit under construction in China is to be fitted with a mooring system supplied from Norway.

[Les mer ] Contracts

Big gas at Bianchi 1

Austria's OMV has reported a major new gas find while drilling offshore Australia following on from its earlier Zola discovery.

[Les mer ] Exploration

New drilling near Johan Castberg

Swedish explorer Lundin Petroleum has kicked off a new exploration well in the Norwegian sector of the Barents Sea.

[Les mer ] Exploration

Irish data acquisition underway

Seismic data acquisition has kicked off on a newly allocated Irish Frontier Exploration Licence.

[Les mer ] Exploration

Profilerte stillingerAlle stillinger »
Profilerte selskapFra OffshoreX.no
PSSI AS Logo

PSSI AS

Focused on on-offshore with API pumps,filters,strainers,lub.systems. service - Rep.Mech.seals, couplings, coating, minimess equip.Rental pumps & filters.

Se profil | offshorex.no
OFFSHORE.NO AS Logo

OFFSHORE.NO AS

Nordens største nyhetsleverandør til olje- og gassbransjen.

Se profil | offshorex.no
Pon Power Scandinavia Logo

Pon Power Scandinavia

Pon Power is the distributor of Cat and MaK engines and generators in Scandinavia. Product spectrum, ranging from 6.4 to 16,200 kW, which are mainly used as propulsion and auxiliary engines, primary power or emergency power, firefighting pumps and cranes for offshore installations. We offer worldwide 24-hour service and rapid delivery of spare parts. ISO 9001, ISO14001 and Achilles certified.

Se profil | offshorex.no
Marwin Løfteteknikk AS Logo

Marwin Løfteteknikk AS

Marwin Løfteteknikk AS is exclusive dealer for Slingmax products in Scandinavia. A high end range of rigging solutions featuring their Twin-Path fibre sling; low weight, extreme braking load. Marwin Løfteteknikk AS are also authorized dealer for Dillon, the world leader in dynamometers since 1937.

Se profil | offshorex.no
ACHILLES AS Logo

ACHILLES AS

Achilles kjernekompetanse er å identifisere, kvalifisere, valuere og overvåke leverandører og underleverandører på vegne av våre oppdragsgivere verden over.

Se profil | offshorex.no
Olympus Norge AS Logo

Olympus Norge AS

Olympus Industri tilbyr kundene omfattende fjernbetjent visuel inspeksjon, høyhastighedsvideo og ultralyds- og hvirvelstrøms-non-destruktive testløsninger.

Se profil | offshorex.no
Tips oss
Kontakt oss
Offshore.no AS
Annonsere
Ansvarlige
Sjefsredaktør: Erlend Keilen
OPPHAVSRETT
Alt innhold er opphavsrettslig beskyttet.
Copyright Offshore.no AS