Gazprom Neft Dodges $163M Antitrust Fine

Law360, New York (November 12, 2009, 1:08 PM EST) -- An arbitration court has overturned Russian antitrust watchdogs' hefty fine of 4.7 billion rubles ($163 million) against state-owned oil giant JSC Gazprom Neft for alleged wholesale-oil market abuses, the company announced Thursday.

Gazprom Neft — the petroleum-producing arm of global energy giant OAO Gazprom — said in a statement that the Arbitration Court of St. Petersburg and Leningrad had voided the fine leveled against the company in August by Russia's Federal Antimonopoly Service, one of several penalties the Russian FAS has recently handed out in connection...
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