BUSINESS

Competition Council recommends differentiated company fines

The Competition Council investigative report into the fuel market recommends that company fines should be differentiated, Mediafax quoted Council President Bogdan Chiritoiu as saying.The Competition Council is investigating the six large petrol companies operating in Romania, – OMV, Petrom, Rompetrol, MOL, Agip and Lukoil – given the suspicions they agreed in 2008 to pull a petrol brand out of the market. Chiritoiu also said that, at the hearings, the layers for the companies concerned professed their clients’ innocence.

He also said that yesterday’s hearings were a first procedural step in the inquiry opened by the Competition Council, and a final decision will be reached over the next few days or weeks. The steepest fine the Competition Council could apply to a company equals 10 pc of its business turnover figure.

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