The inspection is carried out on request of the European Commission with the suspect of violating European competition law. Statoil is cooperating with the authorities in their inspection, the company reported in a press release.
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.
– Competition Authorities suspect that several companies have participated in anti-competitive agreements and concerted practices contrary to Article 53 EEA In addition, the control possible abuse of potential dominant position of another party, in violation of the EEA Agreement, Article 54, the company writes.
