Oil giants looking to pry their way out of US cartel case

Statoil, Shell and several other oil companies are putting pressure on the US courts in an effort to make them discard a price fixing case related to North Sea oil.

Several major oil companies and energy trading companies are now trying to avoid a court case in the US that could potentially end up costing them hundreds of millions of dollars.

According to Reuters, companies such as BP, Shell and Statoil, though also energy traders such as Morgan Stanley and Vitol, have sent papers to the US District Court in Manhattan, New York, in an effort to avoid going through a court case in which the companies are accused of, for the past 12 years, having manipulated oil prices on the trading platform Platts, which determines the price of North Sea-based brent oil.

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