The EU Commission’s competition agency has discontinued its investigation into potential manipulation of oil price benchmarks

In May 2013 the offices of Statoil were subject to an inspection by EFTA Surveillance Authority (ESA) on behalf of the EU Commission. The purpose was to investigate potential manipulation of the energy agency Platts’ oil price benchmarks. The investigation, which could potentially have resulted in a formal probe, focused on Statoil as a company, and not on individuals.

International news agencies announced last week that the EU Commission had currently discontinued the investigation of potential manipulation of the energy agency Platts’ oil price benchmarks. This has been confirmed to Statoil in conversations with the EU Commission. It has also been confirmed that Statoil is not part of the ongoing investigation concerning ethanol price reporting.

Tags: Statoil