OMV Petrom To Battle Competition Council’s Fine
Petrom group on Tuesday said it will challenge in court the fine received from Romanian competition authorities following a fuel market probe, saying the measure is unjustified.
The companies included in the Petrom group were fined a total 503.8 million lei (EUR115.48 million), representing 57% of all fines issued against the six companies involved in the probe, namely RON880.5 million.
OMV Petrom (SNP.RO) was fined RON366.53 million, while OMV Petrom Marketing was fined RON137.28 million, according to a memo posted on the Bucharest bourse.
Romanian antitrust regulator Tuesday fined six top players in the oil industry, including OMV Petrom (SNP.RO) and Rompetrol Rafinare (RRC.RO), with a total of around 880 million lei (EUR205 million) for having breached competition laws. (EUR1=RON4.3625)
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