OREANDA-NEWS. November 30, 2010. At the hearing at Moscow Arbitration Court “Rosneft” NK” OJSC withdrew its claim in the part of invalidating the decision and determination of the Antimonopoly Service that the company had abused dominant position on the wholesale market of oil products, reported the press-centre of FAS Russia.

Upon a petition of “Rosneft” NK” OJSC, the Court also ruled to reduce the penalty to 1% of the company’s income on the wholesale markets of the Russian Federation for motor petrol, diesel fuel and aviation kerosene in 2009.The fine imposed upon the company is 2,039,872,680 Rubles.

Earlier FAS Russia found that in the first six months of 2009 “Rosneft” NK” OJSC abused its dominant position on the market of motor petrol, diesel fuel and aviation kerosene, and in October 2009 FAS Russia fined “Rosneft” NK” OJSC 5.28 billion Rubles (2.588 % of the income earned by “Rosneft” NK” OJSC on wholesale markets of the Russian Federation for motor petrol, diesel fuel and aviation kerosene in 2009).

The penalty was reduced to 1% of the income of “Rosneft” NK” OJSC on the wholesale markets of the Russian Federation for motor petrol, diesel fuel and aviation kerosene in 2009 due to mitigating circumstances: voluntary measures to develop exchange trade and increase the volume of oil products trade through exchange, and ensuring participation of sellers - members of the group of persons of “Rosneft” NK” OJSC - in exchange trade as buyers along with other economic entities.

When the ruling of Moscow Arbitration Court comes into effect, FAS Russia will control “Rosneft” NK” OJSC executing the FAS Russia’s determination and transferring the administrative fine 2,039,872,680 Rubles, to the federal budget.

At the earlier court hearings “TNK-BP Holding” OJSC and “LUKOIL-Nizhegorodneftesynthez” Ltd. withdrew their claims in the part of invalidating в the decision and determination of the Antimonopoly Service that the companies had abused their dominant position on the wholesale markets of oil products.

Upon a petition of “TNK-BP Holding” OJSC the Court reduced the penalty to 1% of the company’s income on wholesale markets of the Russian Federation for motor petrol and aviation kerosene in 2009. The fine imposed upon the company is 1,170,872,049 Rubles. The Court ruled to impose an administrative fine upon “LUKOIL-Nizhegorodneftesynthez” Ltd. so the company must transfer 659,738,114.96 Rubles to the federal budget.