Lawsuit filed against Azerbaijan's SOCAR PETROLEUM on grounds of antimonopoly law violation - civil service

By Trend

Azerbaijani State Service for Antimonopoly Control and Supervision of the Consumer Market has been receiving complaints about violations of competition in the oil products market, Trend reported via the civil service.

The report notes, that an investigation was carried out some time ago on the basis of the appeal of individual entrepreneurs to the state service that the buyer has not received oil products from SOCAR PETROLEUM CJSC.

It was established that unfavorable terms of the contract were applied to the buyers, and a lawsuit was filed against the CJSC on the grounds of violation of the antimonopoly law. After consideration of the case, CJSC was ordered to comply with the terms of the contract in accordance with the requirements of the antimonopoly law.

In addition, the civil service decided to oblige the CJSC to pay 27 million manat ($15.9 million) of income received as a result of the activities of SOCAR PETROLEUM CJSC, which do not meet the requirements of the laws of Azerbaijan "On Price Regulation" and "On Antimonopoly Activity". The funds are to be paid to the Azerbaijani state budget.

In case of detection of more such cases in the oil market, the most stringent measures will be taken in accordance with the law.