Spain’s competition authority said on Tuesday it had closed its investigations into BP, Repsol and Cepsa, now renamed Moeve, after determining that the companies did not breach antitrust laws.
The decision by the Comisión Nacional de los Mercados y la Competencia (CNMC) brings to an end a case that began in 2022, when two industry associations accused the oil majors of abusing their dominant market position and engaging in collusive practices.
According to Reuters, the case centered on allegations that the companies sought to increase their market share by raising fuel prices during the period following Russia’s invasion of Ukraine.
The CNMC concluded there was insufficient evidence of violations of Spain’s competition law, specifically Articles 1 and 2 of Law 15/2007 on the Defense of Competition. As a result, the regulator opted not to initiate sanctioning proceedings and instead archived the case.
Full story Spain’s Competition Watchdog Closes Probe Into BP, Repsol and Cepsa
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