The European Commission has launched an investigation into allegations that major oil companies, including BP and Shell, have manipulated the oil price and violated European antitrust rules.
On Tuesday, May 14, European Commission officials carried out unannounced inspections at the premises of several companies active in the oil and biofuels sectors, including BP, Shell and Statoil. The Commission has concerns that the companies may have colluded in reporting distorted prices to a Price Reporting Agency to manipulate the published prices for a…
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