Partaking of Lukoil-Yugnefteproduct in Concerted Actions Proved
OREANDA-NEWS. September 21, 2009. The Federal Arbitration Court of the North-Caucasus District confirmed validity of the decision made by the Krasnodar Office of the Federal Antimonopoly Service (OFAS Russia) that "Lukoil-Yugnefteproduct" Ltd. had violated Clause 1 Part 1 Article 11 of the Federal Law "On Protection of Competition" (competition-restricting concerted actions on the market of oil products), reported the press-centre of FAS Russia.
On 12th September 2008, the Krasnodar OFAS Russia ascertained the fact of concerted actions in the market of oil products between "Lukoil-Yugnefteproduct" Ltd., "Rosneft'-Kuban'nefteproduct" Oil Company" OJSC, "Crocus" Ltd., "Vera" Ltd. and "Veteran Vooruzhennykh Sil" Ltd.
"Lukoil-Yugnefteproduct" Ltd. violated the antimonopoly legislation by fixing and maintaining monopolistically high retail prices for motor petrol (grades Аi-92 and Аi-95) and diesel fuel sold at a service station located within the geographic boundaries of the municipality of the town of Armani. The prices were set at the same level with the prices fixed by "Rosneft'-Kuban'nefteproduct" Oil Company" OJSC and "Crocus" Ltd. For that offence "Lukoil-Yugnefteproduct" Ltd. was fined 831,951.73 Rubles. Other companies were charges in Eisk.
"Lukoil-Yugnefteproduct" Ltd. appealed the decision of the Krasnodar OFAS Russia. However, the courts of all three instances confirmed legitimacy of the conclusions made by the Antimonopoly Service with regard to the oil company.
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