Updated August 7, 2008

Last week the Federal Antimonopoly Service (FAS) w as forced to conduct control checks of the five l

argest oil companies with a purpose to find out the information about wholesale prices on diesel and jet fuel.

It is better to remind that against such companies as Rosneft, Lukoil, TNK-BP, Gazprom Neft and Surgutneftegaz were brought criminal cases about antimonopoly law violation.

They were suspected of undue overpricing on fuel.

In terms of that fact, all companies were obliged to present full data about wholesale prices on fuel to FAS by August, 1.

The terms have already expired, and only one company has given a report on the demand – Surgutneftegaz, that occupies the 4th place by oil extraction among the Russian oil extracting companies. And all the o ther oil companies have ignored the federal agency demand.

To receive the required data,

the Federal Antimonopoly Service even called in the Ministry of the Interior representatives, a report says. In the agency refused to comment in details.

Currently, these five companies' m atters with the FAS st and in a bad way. As the FAS head Igor Artemiev says, around 50 criminal c ases will be brought against them, and against refueling stations in airports as well, and in terms of antimonopoly law violation.

In case, the FAS manages to prove the fact of violations in a court, oil extracting companies will pay 15% fines from a turnover at a target market of a separ

ate region.

However, the companies do not agree with accusations of

them. They assure the have not broken the regulations and they operate within the law framework.

However, in the oil companies refused to comment

in details. So, for instance, Rosneft company representative reported that at the current moment they examined the situation; in Lukoil declared that, as per the company information, the required data was provided in time.

Mr. Artemiev told the FAS was going to offer all oil companies and refueling stations to reduce prices on fuel, jet fuel and other oil products voluntary. This will act as extenuating circumstance at fines setting.

The minimum fine size concerning companies that have reduced prices voluntary totals 1% from a turnover.