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Statoil ASA Announces Inspection Visit by EFTA Surveillance Authority


Tuesday, 14 May 2013 09:16am EDT 

Statoil ASA announced that the Company's office in Stavanger was subject to an inspection visit on May 14, 2013 by the EFTA Surveillance Authority (ESA), assisted by the Norwegian Competition Authority (Konkurransetilsynet). The inspection is carried out on request of the European Commission. Statoil is cooperating with the authorities in their inspection. 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. In addition the inspection relates to potential abuse of possible dominant position by another party, contrary to Article 54 of the EEA Agreement. The suspected violations are related to the Platts' Market-On-Close (MOC) price assessment process, used to report prices in particular for crude oil, refined oil products and biofuels, and may have been on-going since 2002. 

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18.35
0.34 +1.89%
19 Dec 2014