EU antitrust officials investigate BP, Statoil

EU antitrust officials raid Norwegian Statoil headquarters, investigate BP over price-fixing

Associated Press

LONDON (AP) -- European anti-trust authorities have launched investigations into at least two oil companies on suspicion of price-fixing.

Britain's BP and Norway's Statoil confirmed they are subject to the inquiry announced Tuesday by the European Union's executive arm, the Commission.

Statoil says the inspection, at its headquarters in Stavanger, Norway, was carried out with the assistance of Norwegian antitrust officials. Norway is not a member of the EU. BP offered no details, but said it was cooperating with authorities.

The Commission said in a statement Tuesday that it had requested raids on several oil companies on concerns that they "may have colluded in reporting distorted prices" and "prevented others from participating in the price assessment process, with a view to distorting published prices."

Its statement did not identify the companies involved.

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