OREANDA-NEWS. April 24, 2014. The Federal Antimonopoly Service (FAS Russia) issued a warning to “LUKOIL” OJSC to eliminate by 20th May 2014 elements of violating the antimonopoly law. The company imposed disadvantageous contract conditions for supplying oil products, and refused to conclude a contract for supplying oil products without economic and technological grounds (Clauses 3 and 5 Part 1 Article 10 of the Federal Law “On Protection of Competition”).

Earlier, based on the analysis of pricing on the market of oil products, FAS noted increased prices at exchange trading from November 2013 at delivery basis of “LUKOIL” OJSC. The company sells gasoline and diesel fuel through exchange trading at prices exceeding the average market price and predominantly within the group of persons.

In the FAS opinion, one of the factors affecting increase oil products prices became non-compliance of “LUKOIL” OJSC with the principles of exchange trading with oil products provided for in the laws in force. The company also failed to provide equal conditions for acquiring oil products by independent market participants in the off-exchange segment.

To execute the warning, FAS requested “LUKOIL” OJSC to execute:

- No.313/13/225 Joint Order of FAS Russia and the Ministry of Energy “On Approving the Minimum Quantity of Oil Products Sold through Exchange and Requirements to Exchange Trading, when Economic Entities that Have Dominant Position on the Relevant Markets Conclude Transactions with Oil Products” of 30th April 2013

- No.1035 Decree of the Government of the Russian Federation “On Approving the Criteria for Regularly and Uniformity of Selling Goods through Exchange for Some Markets where Oil and (or) Oil Products Circulate” of 11.10.2012

- the “Rules of Exchange Trading” in “Oil Products” Section of “SPIMEX” CJSC approved by a Decision of the Board of Directors of “SPIMEX” CJSC of 3rd March 2011 (No.33 Protocol) with changes and additions of 28th March 2011 (No. 35 Protocol), 11th May 2011 (No.38 Protocol), 9th September 2011 (No.43 Protocol), 14th August 2012 (No.52 Protocol).