MOL Magyar Olaj- es Gazipari Nyrt. : MOL Romania appeals against the decision of the Romanian Competition Council

MOL Romania has been informed by the Romanian Competition Council in relation with an alleged breach of the competition law by companies active in the Romanian fuels market. The alleged breach of antitrust regulations refers to the common withdrawal of the unleaded gasoline pre-mixed, called Eco Premium, from the Romanian fuel market, in 2008.

Starting January 1st 2005, in Romania it was prohibited to market leaded gasoline. As a result, refineries replaced the tetraethyl lead with other metallic additives, thus creating the ECO Premium assortment. At the time, MOL Romania acquired 100% of ECO Premium from the local producers or from distributors, as MOL Nyrt. had ceased producing gasoline with metallic additives by October 2004. ECO Premium sales were decreasing until 2008, corresponding to the lower number of old cars that used this fuel.

MOL Romania states that withdrawing ECO Premium from its fuels portfolio was its individual business decision and not the result of an anticompetitive agreement, concerted practice.

According to the Romanian Competition Council, based on the applicable antitrust regulations, MOL Romania has been fined with 80,267,746 lei (EUR 18.5 mn), that is 3% of the company's turnover registered in 2010.

MOL Romania will file a motion to suspend the execution of the above-mentioned decision and will challenge it with the Bucharest Appeal Court, within 30 days from communication thereof, as required by the local legislation.

For further information, please contact:

Investor Relations                + 36 1 464 1395
facsimile:                            + 36 1 464 1335

Publish date: 

2012-01-10