STAVANGER, NORWAY--(Marketwired - May 14, 2013) - Statoil's (
The authorities suspect participation by several companies, including Statoil, in anti-competitive agreements and/or concerted practices contrary to Article 53 of the EEA Agreement. In addition the inspection relates to potential abuse of possible dominant position by another party, contrary to Article 54 of the EEA Agreement.
The suspected violations are related to the Platts' Market-On-Close (MOC) price assessment process, used to report prices in particular for crude oil, refined oil 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