Press Release: Mergers: Commission opens in-depth investigation into StatoilHydro’s proposed acquisition of ConocoPhillips’ Jet petrol stations in Scandinavia

The European Commission opened a detailed investigation under the EU Merger Regulation into Norwegian oil company StatoilHydro's proposed acquisition of Jet petrol stations in Scandinavia, currently owned by ConocoPhillips of the US. Jet Scandinavia is part of ConocoPhillips and mainly active in the sale of motor fuel at petrol stations. The Commission's initial market investigation has indicated that the proposed merger raises serious doubts as to its compatibility with the Single Market as it appears that it could limit competition on the motor fuel retail markets in Sweden and Norway. The opening of an in-depth inquiry does not prejudge the result of the investigation. The Commission now has 90 working days (until 18 September 2008) to take a final decision on whether the proposed transaction would significantly impede effective competition in the European Economic Area (EEA) or a substantial part of it.