Russian Federal Anti-Monopoly Service brings charges against Rosneft LUKOIL and Gazprom Oil

The Russian Federal Anti-Monopoly Service (FAS) has opened cases
against Rosneft, LUKOIL and Gazprom Oil for the artificial rising of
prices for diesel and air kerosene fuel in late 2010 - early 2011, RIA
Novosti reports.

Head of the FAS Igor Artemyev said that they started the third wave of
anti-monopoly measures against Russia's largest oil companies. TNK-BP
was also fined.

The FAS says that they have questions for TNK-BP, Surgutneftegaz, AHK Bashneft.
The FAS had preliminary analysis in late December 2010 and sent
letters to the companies with demands to clarify reasons for price
raising. The prices continued growing from October 2010 to late
January 2011 by 53% for winter diesel fuel and by 30% for air
kerosene.

The anti-monopoly service says that the rising prices on the foreign
markets and increase of excises have only partial effect on the
prices.

The service accuses the companies of setting and preserving high
prices, removal of products from distribution, forming discriminate
conditions for fuel supplies. The FAS has grievances concerning the
stock exchange activities: there is poor supply, lack of anonymous
trading, irregular sales, presence of major targeted deals.