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Norway: BP cleared to acquire jet fuel operations

 |  December 16, 2014

UK oil giant BP has received approval from EU authorities to acquire Norway’s Statoil Fuel and Retail Aviation, according to reports.

The European Commission signed off on BP’s request to purchase the jet fuel business, though not without concessions. Report say BP will have to divest certain SFRA operations in several cities in the EU, including Stockholm and Copenhagen.

The Commission said in a statement that its main concern was that the takeover would lead to higher fuel prices. “These divestments would remove the entire overlap with regard to the supply of aviation fuel,” the watchdog said. “Moreover, the divestments would allow the entry of an additional aviation fuel supplier at these four airports” in which the divestments were required.

Reports did not specify financial details of the takeover.

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