Anti-trust Watchdog Imposes BGN 67 Mln Fine on Lukoil-Bulgaria for Abuse of Dominant Position

18.2.2023
SOFIA, 17.02.2023 14:49 (BTA) The Commission for Protection of Competition (CPC) announced Friday that it has imposed a fine of BGN 67,771,454 on Lukoil-Bulgaria for abuse of dominant position. They regulator has found that the company applied a price squeeze against its competition in the wholesale market for motor fuels in Bulgaria, which may prevent, restrict or distort competition on the fuel markets and affect the interests of consumers. The investigation was initiated at the request of OMV Bulgaria OOD and subsequently joined by Insa Oil OOD and other wholesale market participants, the Commission said. During its investigation, the regulator gathered a huge amount of information from Lukoil-Bulgaria Ltd, Lukoil Neftohim Burgas AD, the Customs Agency and almost all major traders and fuel warehouse holders. CPC stated in an analysis of the data collected that Lukoil-Bulgaria owns more than half of the market and is the leader in the wholesale of motor fuels. The regulator says that thanks to its timely intervention, Lukoil-Bulgaria's strategy to gradually capture the wholesale fuel market has been thwarted. In particular, the company tried to create the impression that its new pricing policy imposed on traders in 2021 would lead to lower prices for the end-consumer. A unilateral pricing policy has been applied in the relevant markets, resulting in a price squeeze. The decision of the Commission may be appealed before an administrative court. /NF/ YOANNA VODENOVA, Lukoil-Bulgaria building in Sofia (BTA Photo), source: https://www.bta.bg/en/news/economy/409336-anti-trust-watchdog-imposes-bgn-67-mln-fine-on-lukoil-bulgaria-for-abuse-of-domi