oslo : STL

May 14, 2013 09:21 ET

Statoil: ESA Conducts Inspection

STAVANGER, NORWAY--(Marketwired - May 14, 2013) - Statoil's (OSE: STL) (NYSE: STO) office in Stavanger is today subject to an inspection visit by the EFTA Surveillance Authority (ESA), assisted by the Norwegian Competition Authority (Konkurransetilsynet). The inspection is carried out on request of the European Commission. Statoil is cooperating with the authorities in their inspection.

The authorities suspect participation by several companies, including Statoil, in anti-competitive agreements and/or concerted practices contrary to Article 53 of the EEA Agreement. In addition the inspection relates to potential abuse of possible dominant position by another party, contrary to Article 54 of the EEA Agreement.

The suspected violations are related to the Platts' Market-On-Close (MOC) price assessment process, used to report prices in particular for crude oil, refined oil products and biofuels, and may have been on-going since 2002.

This information is subject of the disclosure requirements acc. to §5- 12 vphl (Norwegian Securities Trading Act)

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Statoil via Thomson Reuters ONE


Contact Information

  • Further information from:

    Investor relations
    Hilde Merete Nafstad
    senior vice president investor relations
    + 47 957 83 911(mobile)

    Jannik Lindbaek jr
    vice president for media relations,
    + 47 977 55 622 (mobile)