1 Nov 2010 16:25

FAS may lower Rosneft fine in 2nd wave of anti-monopoly case - Artemyev

MOSCOW. Nov 1 (Interfax) - Russia's Federal Antimonopoly Service (FAS) is negotiating with Rosneft and may reduce the oil company's fine for price-fixing in the first half of 2009, FAS chief Igor Artemyev told the press on Monday.

Rosneft was originally fined 5.28 billion rubles, and the FAS now agrees the fine should not exceed 1% of Rosneft's annual oil-product trade.

An agreement between Rosneft and the FAS will be considered by the Moscow Arbitration Court on November 18.

This agreement will concern only the second series of anti-monopoly proceedings, and the fine amount for the first series was 1% of annual turnover for 2008 and this fine (1.508 billion rubles) is to be paid in full.

"Rosneft is working constructively with us. Other companies take the view that they don't need to conclude an agreement with us, Gazprom Neft in particular holds this view," Artemyev said.

"Our proposal is not an irrevocable offer," he said. "An agreement with Rosneft, like with other oil companies (Lukoil and Gazprom Neft) cannot be concluded on terms not approved by the government," he said.