Federal antimonopoly service in Russia against Russian oil companies

Federal antimonopoly service (FAS) of Russia filed a suit against the largest Russian oil companies TNK-VR, “Gasprom neft”, LUKOIL and “Rosneft” for violations at the oil market at the end of 2008. That was reported by Igor Artemyev at the press-conference with journalists.

Federal antimonopoly service (FAS) of Russia filed a suit against the largest Russian oil companies TNK-VR, “Gasprom neft”, LUKOIL and “Rosneft” for violations at the oil market at the end of 2008. That was reported by Igor Artemyev at the press-conference with journalists.

“Today we have filed another suits against four companies…During the fourth quarter of 2008 they didn’t cut the prices for fuel when the prices for oil had been reduced at market”, - said I.Artemyev and added that “in January the companies raised incredibly the wholesale prices for fuel from 30 to 60%”. Such a move was considered by FAS as a challenge to the Russian government.

Last week deputy head of FAS Anatoli Golomolzin said that the agency was going to file antimonopoly suits against these four largest oil companies for the raised retail and wholesome prices for oil products.

FAS has already carried out an investigation concerning wholesome prices of these companies. For abuse of the dominant position at the fuel market in summer last year the agency fined “Rosneft”, “Gasprom neft”, LUKOIL and TNK-VR to the amounts of from 1,1 billion roubles to 1,5 billion roubles.

The head of FAS pointed out that the government made concessions to this field and reduced export dues for oil and import dues for oil-producing equipment. Besides it is necessary to take into account the favorable for oilmen devaluation effect, underlined Artemyev.

“But oil companies simply raised the prices thus challenging the government”, - he said.

According to Artemyev, the judgments on these new cases “will be delivered much more efficiently” than previous time.