Italian Regulator Reduces Fines For Oil Cos.

Law360, New York (January 5, 2007, 12:00 AM EST) -- Noting an error in calculation, Italian antitrust regulators have altered the fines leveled against jet fuel providers Shell and Total in 2005 for allegedly engaging in anti-competitive behavior.

The charge for two Shell subsidiaries dropped to €37.6 million ($49.3 million), from €54 million ($70.9 million). Total’s cost, instead, went up to €13.3 million ($17.5 million), from €8.9 million ($11.7 million), the Italian Competition Authority said on Tuesday.

Along with Shell and Total, Exxon subsidiary Esso, Eni, Kuwait Petroleum and Tamoil were all fined a combined total...
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