EU Regulators Okay BP to Acquire Statoil Fuel and Retail Aviation

European Union competition authorities gave conditional clearance on Monday for oil major BP to acquire jet fuel business Statoil Fuel and Retail Aviation (SFRA).

 

The European Commission said BP had committed to divesting SFRA's activities at Stockholm, Malmo, Gothenburg and Copenhagen airports to remove concerns that increased concentration there would have led to price increases of fuel for airlines.

 

"These divestments would remove the entire overlap with regard to the supply of aviation fuel. Moreover, the divestments would allow the entry of an additional aviation fuel supplier at these four airports," the EU antitrust regulator said.