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FAS fines TNK-BP $47.3M in third wave of cases against oil companies

By  |  March 5, 2012
FAS fines TNK-BP $47.3M in third wave of cases against oil companies

The Federal Antimonopoly Service has fined TNK-BP Holding $47.3 million. The fine was reduced from the original anticipated fine of $61.35 million because TNK-BP admitted to antitrust violations of manipulating diesel and jet fuel prices and imposing unfair conditions on the fuel market. The FAS’ ruling comes under the “third wave” of antitrust cases against vertically integrated oil companies Rosneft, LUKOIL, and Gazprom Neft, in addition to TNK-BP. The third wave began in February 2011; the first two waves were in 2008 and 2009.

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