EU launches probe into oil 'price-fixing'

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

    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.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    Survivor stories from Super Typhoon Haiyan

    Survivor stories from Super Typhoon Haiyan

    The Philippines’ Typhoon Haiyan was the strongest storm ever to make landfall. Five years on, we revisit this story.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    Thou Shalt Not Kill: Israel's Hilltop Youth

    Thou Shalt Not Kill: Israel's Hilltop Youth

    Meet the hardline group willing to do anything, including going against their government, to claim land for Israel.