Statoil: ESA Conducts Inspection

Marketwired

STAVANGER, NORWAY--(Marketwired - May 14, 2013) - Statoil's (OSE: STL) (NYSE: STO) officein Stavanger is today subject to aninspection visit by the EFTA Surveillance Authority (ESA), assisted by theNorwegian Competition Authority (Konkurransetilsynet). The inspection iscarriedout on request of the European Commission. Statoil is cooperating with theauthorities in their inspection.

The authorities suspect participation by several companies, includingStatoil,in anti-competitive agreements and/or concerted practices contrary toArticle53 of the EEA Agreement. In addition the inspection relates to potentialabuseof possible dominant position by another party, contrary to Article 54 oftheEEA Agreement.

The suspected violations are related to the Platts' Market-On-Close (MOC)priceassessment process, used to report prices in particular for crude oil,refinedoil products and biofuels, and may have been on-going since 2002.

This information is subject of the disclosure requirements acc. to §5-12 vphl(Norwegian Securities Trading Act)

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Source: Statoil via Thomson Reuters ONE

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