OREANDA-NEWS. March 06, 2012. The Federal Antimonopoly Service (FAS Russia) fined “TNK-BP Holding” OJSC over 1.3 billion Rubles as part of the “third wave” of the antimonopoly cases against vertically-integrated oil companies, reported the press-centre of FAS Russia.

According to Article 14.31 of the Code of the Russian Federation on Administrative Violations, FAS imposed an administrative fine upon the company 1,385,826,488 Rubles.

Earlier the Antimonopoly Service found that “TNK-BP Holding” OJSC violated Part 1 Article 10 of the Federal Law “On Protection of Competition”. The company created discriminatory conditions on the wholesale gasoline market, and fixed and maintained monopolistically high prices on the market in Q2 – Q3 2011. Investigating the antimonopoly case, “TNK-BP Holding” OJSC admitted the fact if creating discriminatory conditions on the wholesale gasoline market. Based on its decision, the antimonopoly body issued a determination to the company.

In course of the administrative proceedings, the Company admitted committing the alleged violations and submitted oral and written explanations regarding voluntarily elimination of the violations and its consequences. “TNK-BP Holding” OJSC reported that the company has undertaken measures to eliminate discriminatory conditions in wholesale sales of oil products: excluded provisions on discounts for buyers depending on the acquired quantity of oil products; reduced the list of requirements to counteragents who wish to conclude contracts for supplying oil products with the company; devised a draft standard contract for supplying oil products, under which the company would supply gasoline and diesel fuel to the domestic market of the Russian Federation to all buyers at equal conditions, listing all alternative logistic supply capacity; concluded ling-term contracts with independent buyers for supplying oil products at equal conditions with the company’s subsidiaries. The company is devising and in the near future will present to FAS Russia a corrected pricing procedure and general principles of selling oil products on the wholesale markets of the Russian Federation.

“TNK-BP Holding” OJSC has moved to the types of fuel that meet the Technical Regulations “On the Requirements to Gasoline and Aviation Petrol, Diesel and Marine Fuels for Jet Engines and Residual Fuel Oil”. The company increased fuel shipment to the domestic market, particularly, in the hard period of April – May 2011. The company has formulated several initiatives towards improving the rules of exchange trading with oil products and registers off-exchange contracts. “TNK-BP Holding” OJSC honoured its obligations to supply fuel for the needs of agriculture at reduced prices.

FAS Russia took into consideration the above and other circumstances making a decision on the size of the fine in the administrative case.