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TNK-BP May Face $57 Million Antitrust Fine on Prices, IFX Says

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Jan. 17 (Bloomberg) -- TNK-BP may be fined 1.8 billion rubles ($57 million) in the so-called third wave of cases into high fuel prices, Interfax reported, citing Igor Artemyev, the head of Russia’s Federal Anti-Monopoly Service.

The antitrust watchdog doesn’t expect price spikes this year, the new service said, citing Artemyev on President Dmitry Medvedev’s order to continue its investigations.

TNK-BP, the Russian oil venture half-owned by BP Plc, declined to comment when called by Bloomberg News. OAO Rosneft may have to pay 1.76 billion rubles for “monopolistically” high prices at the end of 2010 and beginning of 2011, while OAO Gazprom Neft faces a fine of 979 million rubles and OAO Bashneft 778 million rubles, according to statements on the Federal Anti-Monopoly Service’s website in December.

Link to Company News:{BP/ LN <Equity> CN <GO>} Link to Company News:{GAZP RM <Equity> CN <GO>} Link to Company News:{TNBP RU <Equity> CN <GO>}

To contact the reporter on this story: Jake Rudnitsky in Moscow at jrudnitsky@bloomberg.net

To contact the editor responsible for this story: Torrey Clark at tclark8@bloomberg.net

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