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Antitrust case opened against Russian oil giants, including troubled Bashneft

17:43 05/11/2014

MOSCOW, November 5 (RAPSI) – The Federal Antimonopoly Service announced on Wednesday that a case has been opened against major Russian oil producers Bashneft, Rosneft, Lukoil, and subsidiary of the latter Lukoil-Rezervnefteprodukt over gasoline price increase.

Analysis of oil products market revealed that the retail price of gasoline in Russia grew faster than the inflation rate which is linked to higher wholesale price, the statement of the regulator reads.

The retail price of AI-92 gas increased 10 percent, while the price of AI-95 gas increased 7.8 percent over the course of the year, according to the Russian Federal State Statistics Service (Rosstat).

Mid-sized oil producer Bashneft recently came under scrutiny, as alleged manipulations were uncovered during the company's privatization in 2009 when a major stake was sold to companies affiliated with Ural Rakhimov, son of the former head of Bashkortostan Murtaza Rakhimov.

In 2009, Russian oil-to-telecoms conglomerate AFK Sistema gained control of the company. 

Investigators opened a criminal case last April linked to deals with Bashneft shares in 2002 to 2009.

Rakhimov and billionaire Vladimir Yevtushenkov were implicated in the sale of Bashneft stock in 2009. Rakhimov was charged in absentia with embezzlement and money laundering, put on the international wanted list.

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Antitrust case opened against Russian oil giants, including troubled Bashneft

17:43 05/11/2014 The Federal Antimonopoly Service announced on Wednesday that a case has been opened against major Russian oil producers Bashneft, Rosneft, Lukoil, and subsidiary of the latter Lukoil-Rezervnefteprodukt over gasoline price increase.
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