Wednesday, October 28, 2009

Anti-Monopoly Service Fines Oil Companies

Russia’s Federal Anti-Monopoly Service (FAS) imposed a record fine of 5.3 billion rubles ($180 million) on state-owned oil company Rosneft for “abusing its dominant position in the wholesale market for oil products” and artificially pushing up oil product prices in the first half of 2009. Earlier two other major oil companies, TNK-BP and Gazprom Neft, were fined on similar grounds. Rosneft may challenge the FAS decision in court.

http://gazeta.ru/financial/2009/10/27/3277503.shtml

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