OREANDA-NEWS. December 22, 2008. According to FAS Russia's estimate, Lukoil OJSC can be fined for violating the antimonopoly legislation around 1.5 billion Rubles and "Rosneft" Oil Company" OJSC - around 1.8 billion Rubles, reported the press-centre of FAS Russia.

On 15th December 2008, FAS Russia drew up the protocols on administrative violation on the presence of representatives of both companies. The hearings are scheduled for 24th December 2008, the companies have been notified.

Earlier the FAS Russia's Commissions declared that the oil companies had violated the Federal Law "On Protection of Competition". In particular, the Commission found that Lukoil OJSC had breached Clause 1 Part 1 Article 10 of the Federal Law "On Protection of Competition". The Antimonopoly Service concluded that in summer 2008 Lukoil OJSC had abused dominant position on the wholesale oil products market by fixing monopolistically high prices for motor petrol, diesel fuel and aviation kerosene.

"Rosneft" Oil Company" OJSC breached Clauses 1,6 and 8 Part 1 Article 10 of the Federal Law "On Protection of Competition". The Oil Company violated the law by fixing and maintaining monopolistically high prices for motor petrol, diesel fuel and aviation kerosene as well as creating discriminatory conditions and fixing different prices for the same goods without economical or technological justification.

Violating of Article 10 of the Federal Law "On Protection of Competition" constitutes grounds for imposing a fine under Article 14.31 of the Code of the Russian Federation on Administrative Violations - from one hundredth to fifteen hundredth of the proceeds gained by the violator from the goods (works, services) on the market where the violation was committed.