FAS Russia: “LUKOIL” paid a fine in course of the “third wave of antimonopoly cases”

20-02-2012 | 16:07

In course of the “third wave of antimonopoly cases”, on 17th February 2012 oil refineries of “LUKOIL” OJSC paid full fines for committing violations on the market of oil products. The federal budget received over 600 million Rubles.

“LUKOIL-Ukhtaneftepererabotka” Ltd. paid over 161.9 million Rubles, “LUKOIL-Permnefteorgsintez” Ltd. – 203.4 million Rubles and “LUKOIL-Nizhegorodnefteorgsintez” Ltd. – 243.8 million Rubles.

On 28th December 2011, the Federal Antimonopoly Service (FAS Russia) imposed fined upon the group of persons of “LUKOIL” OJSC for violating Part 1 Article 10 of the Federal Law “On Protection of Competition”. In Q4 2010 the companies fixed and maintained monopolistically high prices for diesel fuel.

“LUKOIL” is the second company that paid the fine under the “third wave of antimonopoly cases”. Earlier, on 23rd January 2012 FAS was notified that “Bashneft” ANK” OJSC paid an administrative fine – 778.2 million Rubles – for fixing and maintaining monopolistically high prices on the wholesale market of gasoline in April -September 2011.

Total fines imposed under “third wave of antimonopoly cases” upon “Gazprom Neft” OJSC, “LUKOIL” OJSC and its three refineries, “Bashneft” ANK” OJSC and the group of persons of “Risneft” NK” OJSC is over four billion Rubles.

FAS will make a decision regarding administrative sanctions against “TNK-BP Holding” OJSC in Q1 2012.