European Commission Competition Authority has stopped the investigation of possible manipulation of the benchmark price of crude oil.
writes Statoil said in a statement.
In May 2013 the offices of Statoil subject to an inspection by the EFTA Surveillance Authority (ESA) on behalf of the European Commission. The purpose was to investigate possible manipulation of energy agency Platts’ benchmark price of crude oil.
The investigations, which potentially could have resulted in a formal etterforskningssak, was aimed at Statoil as a company, and not to individuals.
International news agencies announced last that the European Commission currently has halted investigation of possible manipulation of energy agency Platts’ benchmark price of crude oil. Statoil has been confirmed in discussions with the European Commission. Statoil has also confirmed that the company is not subject to the investigation which is still ongoing relating to price reporting for ethanol.
Statoil has since inspection in May 2013 argued that the company has not participated in any form price manipulation. After the inspection, the company has worked actively to provide all information and documentation that the European Commission has demanded.
– Statoil is satisfied that the investigation is now stopped, confirming the opinion Statoil had the case.
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