16/05/2011 (Agence Europe) - Merger. On Friday 13 May, the European Commission authorised the Chinese company PetroChina Company Limited (oil and petrochemicals, controlled by the group China National Petroleum Corporation) to take a stake in oil refineries at Grangemouth (Scotland) and Lavera (France), which are currently wholly owned by the Swiss oil and petrochemicals company Ineos AG. The investigation showed that the horizontal overlaps and vertical relationships between the activities of the parties are limited, and that this operation would not change the competitive structure of the markets in question. This assessment apparently remained unchanged even when taking account of the market shares held by the other Chinese state-controlled companies in the oil sector. The Commission therefore concluded that the operation would not bring about any problems of competition. (F.G./transl.fl)