TODAY.AZ / Business

SOCAR achieves cancellation of Ukrainian AMC’s decision

14 July 2017 [15:15] - TODAY.AZ

By Azernews


By Sara Israfilbayova

SOCAR Petroleum LLC, owned by SOCAR Energy Ukraine, achieved the cancellation of the decision of the Antimonopoly Committee of Ukraine (AMC) after 6 months of trial.

In autumn 2016, the AMC decided to fine 7 oil traders operating in the country's market by 204.325 million hryvnia ($7.9 million) for coordinated actions in the market.

The decision was made after consideration of the case of violation of economic competition protection legislation in the form of anticompetitive concerted actions between Zoloty Ekvator (Golden Equator) LLC, WOG Retail LLC,"OKKO petroleum" LLC, Alliance Holding LLC, AMIC Ukraine and Socar Petroleum LLC, which reportedly set retail prices for light petroleum products in January 2013 - January 2016.

The Ukrainian court once again confirmed that the market analysis provided by the AMC can not be considered adequate and sufficient to state that the actions of the operators of the retail market of light oil products are coordinated, Trend reported.

The main activity of SOCAR Energy Ukraine, the Ukrainian subsidiary of Azerbaijan’s SOCAR, is to improve the network of petrol filling stations and organize wholesale of petrol and oil products in the territory of Ukraine.

Today, some 50 specialists are employed at SOCAR Energy Ukraine. The collective work and professional approach ensures the SOCAR projects’ effective implementation in Ukraine.

SOCAR is the only producer of petroleum products in Azerbaijan, and operates more than 370 petrol stations in Switzerland, Georgia, Romania and Ukraine. 

Currently, the company has 60 filling stations in Ukraine.

SOCAR is a wholly state-owned national oil company headquartered in Baku, Azerbaijan. The company produces oil and natural gas from onshore and offshore fields in the Azerbaijani section of the Caspian Sea.

URL: http://www.today.az/news/business/163186.html

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