OMV Petrom SA (“OMV Petrom”), the 51.01% subsidiary of OMV Aktiengesellschaft, received a statement of objections from the Romanian Competition Council concerning an alleged breach of antitrust regulations with respect to the withdrawal of the retail product Eco Premium (unleaded gasoline pre-mixed with lead substitute) from the Romanian fuels market.
The alleged breach concerns a number of the key players on the Romanian fuels market.
The findings of the Competition Council, including possible financial sanctions, will be stated in the final decision which will be issued after the receipt of OMV Petrom’s response to the statement of objections and after a hearing at the Competition Council. In accordance with applicable antitrust regulations the maximum fine may be up to 10% of the turnover.
OMV Petrom is of the opinion that the allegations are unjustified and will take all necessary measures to ensure that its position is fairly represented and reflected in the decision of the Competition Council.
During the time period of the alleged breach, Eco Premium had a market share of approximately 2% on the Romanian fuels market. The decision to withdraw Eco Premium from the market was based on environmental and economic reasons, duly considering consumers’ interests.