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As previously reported by PetrolWorld, EU competition regulators opened
an in-depth investigation this week into Norwegian oil firm StatoilHydro's bid for Jet petrol stations in Scandinavia, citing "serious" concerns amid rising fuel prices.
The European Commission's "initial market investigation has
indicated that the proposed merger raises serious doubts ... as it
appears that it could limit competition on the motor fuel retail
markets in Sweden and Norway," the watchdog said in a statement.
"Rising oil prices make it even more important that consumers
continue to benefit from competition at retail level," said EU
Competition Commissioner Neelie Kroes.
"It appears that Jet has until now kept a downward price pressure on Statoil and that pressure may be permanently lost after the merger," she added.
Jet Scandinavia is part of ConocoPhilips of the United States and is mainly active in the sale of motor fuel at petrol stations.
In March, Statoil notified the Commission of the purchase of all issued share capital of Jet Denmark, Jet Sweden and Jet Norway.
Although Norway is not a member of the European Union, it is subject
to the bloc's antitrust regulations as a member of the European
Economic Area, which includes the EU's 27 members plus Iceland,
Liechtenstein and Norway.
The transaction, announced last September, is for 274 service stations, most of them in Sweden.
PetrolWorld 140508 Source : EU Business
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