ShippingWatch

Norway fears multi-million dollar scandal in the oil industry

Statoil, Shell, and BP have come under the attention of the EU Commission in a major potential scandal. The case resembles the Libor scandal, which resulted in multi-million dollar fines, says analyst.

Photo: Harald Pettersen/Statoil

Statoil, Shell, and BP have come under the attention of the EU Commission in a major potential scandal. The three heavyweigth oil companies are suspected of manipulating prices.

On Tuesday, Statoil's headquarters in Stavanger were raided by inspectors from the free trade organization EFTA's surveillance authority (ESA). According the Statoil, the raid happened because the EU Commission suspects several companies of having participated in competition distortive agreements.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Latest news

See all jobs