VOL. XLIII

No. 25

19-June-2000

KUWAIT/LIBYA

Kuwait Petroleum Italia And Tamoil Petroli Fined For Price Fixing

Italys Antitrust Authority announced on 9 June that eight oil companies had been found guilty of price fixing and fined a total of L640bn ($317.6mn), the equivalent of 3.5% of sales. The eight include Kuwait Petroleum Italia, which was fined L77bn ($38.2mn), and Tamoil Petroli. The authority said the eight firms had entered into complex horizontal agreements which discouraged gasoline...