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Ukraine’s Antimonopoly Committee recommends SOCAR Ukraine to lower fuel prices

Oil&Gas Materials 6 December 2019 15:54 (UTC +04:00)

BAKU, Azerbaijan, Dec.6

By Leman Zeynalova – Trend:

The Antimonopoly Committee of Ukraine (AMCU) has recommended the Ukrainian subsidiary of Azerbaijan’s state-owned company SOCAR to lower fuel prices, Trend reports citing the committee.

AMCU adopted recommendations for a number of brands selling high-octane gasoline and diesel fuel.

The AMCU adopted recommendations to reduce prices for these products for the following companies: WEST PETROL MARKET (WOG brand), OKKO-RETAIL (OKKO brand), UKRNAFTA (UKRNAFTA brand), AMIC Ukraine (AMIC Energy brand), Alliance Holding (brand SHELL), SOCAR PETROLEUM (SOCAR brand), Ukrpaletsystem (UPG brand) and GLUSCO Retail (GLUSCO brand).

These companies are obliged to consider recommendations for lowering prices in a 10-day period and notify the AMCU about this.

SOCAR has been operating in Ukraine since 2008.

SOCAR Energy Ukraine’s Trading House is a permanent member of the Ukrainian Energy Exchange and regularly takes part in e-trading. Its sole goal is to acquire a resource for commercial needs.

The company first participated in natural gas trading at the Ukrainian Energy Exchange e-platform on August 13, 2019. During the auction, lots of 50,000 cubic meters were traded.

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Follow the author on Twitter:@Lyaman_Zeyn

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