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Regulator Asks NK Rosneft' OAO to Sell Filling Station Shares in Five Regions-Interfax

Monday, 29 Jul 2013 09:13am EDT 

Interfax reported that Russia's Federal Anti-monopoly Service (FAS) has completed an analysis to identify regions where NK Rosneft' OAO (Rosneft) share of retail petroleum products exceeds 50% due to the Company's purchase of TNK-BP. The FAS website says it has asked Rosneft to sell filling stations in five regions: Orlov, Smolensk, Tambov, Kostroma, Saratov and Samara. The reduction in Rosneft's share of the retail petroleum products market in these regions ranges from 0.07% to 20.25%. Earlier FAS Deputy Chairman Mr. Anatoly Golomolzin said the service had asked Rosneft to sell filling stations in four regions: Orlov, Smolensk, Tambov and Saratov. According to the FAS instructions, Rosneft should sell the filling stations in a period of one year from receipt of the instructions in writing from FAS. FAS has received trade practices compiled by Rosneft that envisage the Company's general price forming principles and procedures for the sale of motor fuel on the domestic market. The service plans to review the trade practices in the near future. When FAS gave Rosneft permission to acquire all of TNK-BP it set certain conditions, one of which was the sale of filling stations in regions where the merged company had a higher than acceptable share of the market.