OREANDA-NEWS. June 14, 2013. The total share of “Gazprom Neft” OJSC, “Rosneft” NK” OJSC, “Lukoil” OJSC, “TNK-BP Holding” OJSC and “Surgutneftegaz” OJSC on the crude oil market in the Russian Federation exceeds 70%. The share of each of these economic entities is over 8%, which exceeds the shares of other economic entities on the market of crude oil in the Russian Federation.

The Federal Antimonopoly Service (FAS Russia) made this conclusion upon analyzing the state of competition on the market of crude oil in 2012, following No. 773/12 Order “On the Plan of Work for Analyzing the State of Competition on the Markets for 2013-2014” of 19th December 2012.

The purpose of the study was to analyze and evaluate the state of competitive environment on the crude oil market and identify economic entities that have the dominant position.

Under Part 3 Article 5 of the Federal Law “On Protection of Competitions” the dominant position is recognized the position of each economic entity out of several economic entities. Therefore, the conditions specified in Part 3 Article 5 are valid in their totality for “Gazprom Neft” OJSC, “Rosneft” NK” OJSC, “Lukoil” OJSC, “TNK-BP Holding” OJSC and “Surgutneftegaz” OJSC on the crude oil market.

Thus, each of these economic entities has the dominant position on the crude oil market and also has an additional opportunity to exercise significant influence upon the main conditions of goods circulation on the market in question.

In addition, FAS would like to inform that No.65 Decree of the Government of the Russian Federation of 10th February 2011 approved the Regulations on registering off-exchange transactions with exchange commodities by exchanges, particularly, long-term supply contracts, and keeping the register of the above transactions and providing information from the register.

Under No.167-r Decree of the Government of the Russian Federation of 10th February 2011, crude oil is included in the list of exchange commodities, off-exchange transactions with which, including long-term supply contracts, are subject to mandatory registration by exchanges.

FAS would like to remind oil companies to rigidly comply with No.65 Decree of the Government of the Russian Federation of 10th February 2011.