Posts tagged collusion

The European Commission can confirm that, on 14 May 2013, Commission officials carried out unannounced inspections at the premises of several companies active in and providing services to the crude oil, refined oil products and biofuels sectors. These inspections took place in two EU Member States. At the Commission’s request, inspections were also carried out on its behalf by the EFTA Surveillance Authority in one European Economic Area (EEA) Member State. The Commission has concerns that the companies may have colluded in reporting distorted prices to a Price Reporting Agency to manipulate the published prices for a number of oil and biofuel products. Furthermore, the Commission has concerns that the companies may have prevented others from participating in the price assessment process, with a view to distorting published prices.

http://europa.eu/rapid/press-release_MEMO–13–435_en.htm