Results 1 to 3 of 3

Thread: Italy Fines Six Oil Companies For Running "Fuel Cartel"

  1. #1
    Join Date
    Jan 2005
    Location
    America
    Posts
    30,720

    Italy Fines Six Oil Companies For Running "Fuel Cartel"

    Italy fines six oil companies for running jet fuel cartel

    http://news.yahoo.com/s/afp/20060620...ergyoilairline

    (Gold9472: These guys don't care about their criminality. They just blatantly do crime after crime after crime. What the hell do they care? They're making money hand over fist.)

    Tue Jun 20, 2:19 PM ET

    MILAN (AFP) - Italy's antitrust authority said it has fined six oil companies a total of 315 million euros (397 million dollars) for sharing out the market for supplying jet fuel at the country's airports.

    It named the firms as Eni, Exxon Mobil, Shell, Kuwait, Tamoil and Total and said they had been fined varying amounts. Italy's oil giant Eni was hit with the largest fine of 117 million euros.

    The companies have carried out "an intense and continuous exchange of information," including with their various joint companies providing stockage and aircraft refuelling, it said.

    "In addition, the companies have coordinated their respective strategies in awards of supply tenders and have adopted reciprocal punitive behaviour in face of attempts to change the market organisation," said the antitrust authority.

    "The result has been a worsening of the economic conditions offered to air companies," it added.

    The six companies prevented new operators from entering the market, including airlines which wanted to organise their own supply, it said.

    The companies will have to stop their behaviour barring others parties' entry, and by June 30, 2008 will have to dismantle anti-competitive aspects in joint ownership of various operations, it said.
    No One Knows Everything. Only Together May We Find The Truth JG


  2. #2
    AuGmENTor Guest
    At least it's not just us they're raping.

  3. #3
    Join Date
    Jan 2005
    Location
    America
    Posts
    30,720
    Ha.
    No One Knows Everything. Only Together May We Find The Truth JG


Similar Threads

  1. U.S. "Disappointed" At Italy Verdict In CIA Case
    By Gold9472 in forum The New News
    Replies: 1
    Last Post: 11-07-2009, 03:06 PM
  2. Replies: 0
    Last Post: 02-05-2007, 08:09 PM
  3. Hillary: "I'm In" (Running For President)
    By PhilosophyGenius in forum The New News
    Replies: 0
    Last Post: 01-20-2007, 06:57 PM
  4. Replies: 0
    Last Post: 07-31-2006, 11:15 AM
  5. Catherine Herridge of Fox News Called Italy "Wimps"
    By beltman713 in forum The New News
    Replies: 0
    Last Post: 07-23-2005, 07:30 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •