Bulgaria anti-monopoly watchdog raids more oil firms in fuel inquiry (updated)
22/04/2016 12:35
(Adds Shell Bulgaria and Eco Petroleum comment)
SOFIA, April 22 (Reuters) - Bulgaria's anti-monopoly
watchdog said it had raided the offices of Eco Petroleum, part
of Hellenic Petroleum HEPr.AT , and Shell Bulgaria, owned by
Royal Dutch Shell RDSa.L , in an investigation into possible
cartel agreements.
Bulgarians complain of high fuel costs despite a plunge in
global oil prices and a call by Prime Minister Boiko Borisov for
the competition authority to speed up checks on the fuel sector.
"Employees of the Commission for Protection of Competition
are carrying out surprise checks on site at the offices of Eco
Bulgaria and Shell Bulgaria," the commission said in a statement
on Friday.
Eco and Shell both confirmed in separate statements that
checks were being made place at their offices and said they were
fully cooperating, but denied any wrongdoing.
"We are confident that Shell Bulgaria operates in accordance
with Shell's corporate values and its business principles for
fair and ethical competition and within the framework of
applicable legislation," the company said in a statement.
Eco Petroleum said the only reason it was included in the
probe was that it is Bulgaria's fourth biggest fuel retailer.
The companies being investigated are all members of the
Bulgarian Petrol and Gas Association, which has said there are
no cartel agreements between any of its members.
The latest raids follow others earlier this month on the
Bulgarian offices of Russia's Lukoil LKOH.MM and Romania's
Rompetrol RORRC.BX .
In February, the watchdog began investigating the four
companies, as well as the offices of OMV OMVV.Vi , Nis Petrol,
controlled by Russia's Gazprom Neft SIBN.MM and Bulgarian
Petrol 5PET.BB , over possible price fixing. urn:newsml:reuters.com:*:nL8N1644LC
It has also launched a probe into the Lukoil Neftochim
Burgas oil refinery over possible breaches of competition rules
related to the sale of its fuels on the local market.
(Reporting by Tsvetelia Tsolova and Angel Krasimirov; Editing
by Alexander Smith/Ruth Pitchford)
((angel.krasimirov@thomsonreuters.com; +359 888 695 510;))
Keywords: BULGARIA FUEL/PROBE