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US Regulator Closes Statoil Price-Fixing Probe

Posted by October 28, 2014

Norway's Statoil (STO) was told by the U.S. Federal Trade Commission that it was closing a probe into anticompetitive practices in oil price reporting and assessment, it said on Tuesday.

The announcement comes after a similar statement from BP .

"We have received the same information with regards to Statoil and (the) FTC," Statoil spokesman Morten Eek told Reuters.

European Commission officials in May 2013 raided the offices of BP, Shell and Statoil as part of a probe into suspected manipulation of oil and biofuel prices.

(Reporting by Gwladys Fouche, editing by Balazs Koranyi)

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