Romania: OMV to Fight Antitrust Fines
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Thursday, 12 January 2012 |
OMV has confirmed that it plans to fight fines levied by Romania's main competition watchdog, the Competition Council, in court. The company, responding to an announcement that OMV Petrom SA and OMV Petrom Marketing SRL are among several firms being fined a total of 880m lei by the regulator, said that both subsidiaries felt the fines were unjustified.
The CompetitionCouncil announced fines on oil firms, including market leader Petrom, through its Director General Bogdan Chiritoiu (pictured). Rompetrol Downstream, MOL, Lukoil and ENI were also fined for allegedly collaborating to remove a particular fuel from the market in 2008. The fines represent 3% of the companies' combined turnover in 2010, noted Chiritoiu. "It is by far the largest sanction handed out by the Competition Counci," he said, insisiting that it was "tied to direct evidence of an understanding between companies."
PetrolWorld 12012012
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