Thursday, February 26, 2015

Apply huge fine for Repsol and other companies to agree prices … – Minutouno.com

Apply huge fine for Repsol and other companies to agree prices … – Minutouno.com

The greatest punishment is for Repsol, to be paid 20 million euros, while Cepsa (Spanish Society of Petroleum SAU) was passed with 10 million euros, according to a statement released by the CNMC.

The other companies have to pay minor fines. Canarian Disa oil was fined 1.3 million euros, the Spanish subsidiary of Galp with 800,000 euros and 300,000 euros Meroil

According to the CNMC, was established that the companies committed infringements of Article 1 of Law 15/2007 of July 3, Defense of Competition and Article 101 of the Treaty on the Functioning of the European Union (TFEU) relating to prohibited practices of price coordination, exchange of information and non-aggression pacts.

The statement lists each of the infringements: first, an agreement between Repsol and Cepsa for coordination in service stations Brea de Aragón and Illueca in the province of Zaragoza, in July 2013; a nonaggression pact between the same two companies in July-August 2011 in relation to the actions of interference by each stations flagged by the other; and several exchanges of strategic information for 2011, 2012 and 2013 in relation to those stations that are managed by one and are flagged and supplied exclusively by another operator.

Second, a pact of non-aggression between Cepsa and Disa prices between July and September 2011 and agreement between the two companies regarding the prices to be applied in Ceuta in July 2013.
Third, various information exchanges between Disa and Meroil in 2012 in relation to the prices charged in service stations environment Sant Joan Despi (Barcelona) and in 2013 in relation to their operating margins.

And finally, an exchange of information between Galp and Meroil on a supply contract and flagging in May 2013.

The resolution corresponds to an open July 29, 2013 file, and that the nature of the investigated behavior was divided into two.

The CNMC recordeó oil companies which no appeal administratively to the penalty, but has two months to appeal to administrative disputes.

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