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EU: Platts slams Commission’s oil probe

By  |  June 11, 2013
EU: Platts slams Commission’s oil probe

Oil price publisher Platts, which was one of the companies raided by investigators as part of the European Commission’s ongoing probe into the oil market, has slammed the current investigation as one in need of more transparency. According to reports, Platts’ director of market reporting has called for the Commission to clarify its objectives of the investigation. The director, Jorge Montepeque, stressed the need for “as much transparency in government action as wen need transparency in the actions by the industry.” The remarks were made in Kuala Lampur. The Commission is currently also investigating BP Plc, Royal Dutch Shell Plc, and Statoil ASA following allegations and suspicions of price-fixing and collusion.

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