Royal Dutch Shell Plc  .com Rotating Header Image

Greece fines BP, Shell for price-fixing

Posted: 26 November 2008 0141 hrs

ATHENS: Greece’s state competition watchdog has fined British energy giant BP and Anglo-Dutch counterpart Royal Dutch Shell nearly 50 million euros (US$63 million) for price-fixing, the body said on Tuesday. 

The two companies had a “concerted practice” of setting discount policy in gas stations around the country, which amounted to price-fixing, the competition commission ruled. 

At a November 20 meeting, the commission voted by majority to slap a 30-million fine on BP Hellas and a 19.7-million fine on Shell Hellas. 

“The commission found that (the two companies) had no intention of competing against each other and converged their net wholesale prices through proportionally adjusted discounts,” the watchdog said. 

Failure to comply with the ruling within 90 days will incur an additional penalty of 10,000 euros per day, the commission added. 

The ruling is open to appeal at Greece’s administrative courts. – AFP/de


This website and sisters,,,, and, are owned by John Donovan. There is also a Wikipedia segment.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Comment Rules

  • Please show respect to the opinions of others no matter how seemingly far-fetched.
  • Abusive, foul language, and/or divisive comments may be deleted without notice.
  • Each blog member is allowed limited comments, as displayed above the comment box.
  • Comments must be limited to the number of words displayed above the comment box.
  • Please limit one comment after any comment posted per post.