Cases against TNK-BP, Surgutneftegas and Bashneft might not be opened - FAS chief
MOSCOW. June 28 (Interfax) - The head of Russia's Federal Antimonopoly Service, Igor Artemiyev, has not ruled out that cases against Surgutneftegas , TNK-BP and Bashneft could be avoided as part of a "Third Wave" of fines on oil companies.
"We've reached the conclusion that their [Surgutneftegas, TNK-BP and Bashneft] policies during this period weren't the same or, at least, quite a bit easier. They weren't nuisances, or were less so, on the market. The increase in their prices started after those three [Lukoil [RTS; LKOH], Rosneft and Gazprom Neft ]. Although the period still hasn't run out [three years], I haven't ruled out that we won't open cases against these companies if they behave normally," he told journalist son Tuesday.
Artemiyev, in turn, said that decisions in cases against Lukoil, Rosneft and Gazprom Neft as part of the "Third Wave" would be made by this autumn. He also said that companies found guilty of unfair pricing will have to pay large fines, up to 15% of their turnover during the period of their antimonopoly violations.
He added that the FAS has warned oil companies that new cases might be opened if unjustified price increases on petroleum products continues in the future even while world prices for oil decrease.
Artemiyev said: "We've signed off letters to all oil companies where we are again requesting that they pay attention to an important moment [in pricing]: when prices go up on world markets, they rewrite all pricing [for the domestic market]. There has been a slight decrease in world oil prices on the market recently and, consequently, on petroleum products. We warned all oil companies that new investigations would be opened if they don't make quick rewrites of oil pricing, when prices go down," he said.
He added that the FAS is confident in its position in carrying out cases regarding Lukoil, Rosneft and Gazprom. "The creation of a [market] deficit was absolutely artificial. It was all based on efforts by major companies to hold onto unprofitable independent retail operations. The companies should major large fines for this," Artemiyev said.
Over the last two years the FAS has held two waves of antimonopoly cases against major oil companies. During the "first wave", which was held in the autumn of 2008, companies had to pay between 1 billion and 1.5 billion rubles in fines. During the second wave, companies had to pay even bigger fines, between 4 billion rubles and 5 billion rubles.
Oil companies paid fines in the first and second waves. In addition, Lukoil, Rosneft and TNK-BP signed amiable agreements with FAS. The agency reduced fines on these companies during the second wave. Gazprom Neft, which earlier fought against the fines in court, was unable to get a reduction and was forced to transfer a major fine totaling 4.7 billion rubles to the budget.