| Author (Corporate) | European Commission: DG Communication |
|---|---|
| Series Title | Memo |
| Series Details | MEMO/13/435 (14.05.13) |
| Publication Date | 14/05/2013 |
| Content Type | News, Overview |
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The European Commission confirmed on the 14 May 2013 that its officials carried out unannounced inspections at the premises of several companies active in and providing services to the crude oil, refined oil products and biofuels sectors. These inspections took place in two EU Member States. At the Commission's request, inspections were also carried out on its behalf by the EFTA Surveillance Authority in one European Economic Area (EEA) Member State. The Commission has concerns that the companies may have colluded in reporting distorted prices to a Price Reporting Agency to manipulate the published prices for a number of oil and biofuel products. Furthermore, the Commission had concerns that the companies may have prevented others from participating in the price assessment process, with a view to distorting published prices. Any such behaviour, if established, may amount to violations of European antitrust rules that prohibit cartels and restrictive business practices and abuses of a dominant market position (Articles 101 and 102 of the Treaty on the Functioning of the EU and Articles 53 and 54 of the EEA Agreement). |
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| Source Link | Link to Main Source http://europa.eu/rapid/press-release_MEMO-13-435_en.htm |
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| Subject Categories | Energy, Internal Markets |
| Countries / Regions | Europe |
