Energy Industry
Industry: Email Alert RSS FeedEU PROBES STATOIL BUY OF JET STATIONS.
Europe Energy, May, 2008
The European Commission opened a detailed investigation, on 14 May, into Norwegian oil company StatoilHydro's proposed acquisition of Jet petrol stations in Scandinavia, currently owned by ConocoPhillips of the USA. The Commission fears that the transaction could limit competition on the motor fuel retail markets in Sweden and Norway, where Jet may exert competitive pressure on Statoil, leading to a significant impact on Statoil's retail prices.
While Jet is not active in the upstream market of motor fuel supply, the parties' activities overlap in the downstream market of retailing motor fuel, it says.
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