Cartel fined US$ 265 million

摘要

The European Commission has announced fines totalling € 184 million (US$ 265 million) to a group of five bitumen suppliers accused of operating a cartel in the Spanish bitumen market between 1991 and 2002. The companies named in the cartel were BP of the UK, Spain's Repsol and Cepsa, Nynaes of Sweden and Portugal's Galp. Repsol, Cepsa and Galp say they will appeal against the fines. The Commission's investigation was launched in October 2002, following an application for immunity from BP under the Commission's leniency rules. By reporting the cartel BP was excused any financial penalty for its participation.