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EU launches probe into oil 'price-fixing'

Britain's BP, Royal Dutch Shell and Norway's Statoil facing inquiry into allegations of manipulating prices.

Last Modified: 15 May 2013 20:50
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European authorities have launched investigations into at least three oil companies on suspicion of price-fixing.

Britain's BP, Royal Dutch Shell and Norway's Statoil have confirmed that they are facing an inquiry announced on Tuesday by the European Union's executive arm, the European Commission.

Certain oil companies may have tried to "manipulate the published prices for a number of oil and biofuel products", Antoine Colombani, European Commission spokesperson, said in Brussels on Wednesday.

Al Jazeera's Paul Brennan reports from London.

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Al Jazeera
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