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Image header Agence Europe
Europe Daily Bulletin No. 8912
Contents Publication in full By article 39 / 51
GENERAL NEWS / (eu) eu/competition

Green light for Lukoil to buy Teboil and de Suomen

Brussels, 18/03/2005 (Agence Europe) - The European Commission has approved plans of the Russian oil company OAO Lukoil to acquire two Finnish filling station operators, Oy Teboil Ab and Suomen Petrooli Oy. Upon examination, the Commission found that this operation would not be a serious obstacle to competition in the European Economic Area (EEA). Lukoil is active in oil and gas, and in the production, refining and sales of oil products, mainly outside the EU, and Teboil and Suomen manage 289 filling stations and 132 shops selling lubricants and refined oil-based products. The overlaps of activity in the heavy fuels and lubricants sector will be marginal, as the presence of Lukoil is limited for the time being to the sales of a few products to wholesalers and the Finnish resellers, and does not sell to the end user.

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