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Spain Clears Big Oil in Price Probe
21 Apr
Summary
- Spain's antitrust watchdog closed investigations into major oil companies.
- The probe investigated claims of collusive practices to raise fuel prices.
- No antitrust violations were found by the regulatory body.
Spain's National Commission on Markets and Competition (CNMC) has concluded its investigations into major energy companies BP, Moeve (formerly Cepsa), and Repsol. The regulatory body determined that these companies did not violate antitrust laws.
These investigations were initiated due to allegations from two sector associations. The core of the claims centered on the companies allegedly abusing their dominant market positions and engaging in collusive practices. These actions were purported to have artificially increased fuel prices during the period of Russia's invasion of Ukraine.
After thorough examination, the CNMC found no grounds to support the accusations of antitrust law breaches. Consequently, the watchdog has closed all investigations related to these specific claims.
