MOL Romania Appeals Against Romanian Fuel Probe Decision
January 10 2012 - 9:04AM
Dow Jones News
The Romanian arm of Hungarian oil and gas company MOL Nyrt.
(MOL.BU) has appealed against the verdict of the Romanian antitrust
regulator, which slapped a 80.27 million Romanian lei fine (EUR18.5
million) on the company Tuesday.
The competition council fined six top players in the oil
industry, also including OMV Petrom (SNP.RO) and Rompetrol Rafinare
(RRC.RO), with a total of around 880 million lei (EUR202 million)
for having breached competition laws.
The alleged breach of antitrust regulations refers to the six
companies agreeing to withdraw a type of fuel from the market and
replacing it with a more expensive one in 2008, thus hurting
consumers.
"MOL Romania states that withdrawing ECO Premium from its fuels
portfolio was its individual business decision and not the result
of an anticompetitive agreement, concerted practice," MOL said.
As of Jan. 1st 2005 it was prohibited to sell leaded gasoline in
Romania, MOL said, adding refineries therefore replaced the lead
content with other metallic additives, thus creating the ECO
Premium assortment.
MOL Romania will file a motion to suspend the execution of the
decision and will challenge it at the Bucharest Appeal Court within
30 days as required by local legislation.
-By Veronika Gulyas, Dow Jones Newswires; +361-267-0623;
veronika.gulyas@dowjones.com
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