The European Commission has imposed fines totalling EUR183 million on BP, Repsol, Cepsa, Nynäs and Galp for participating in a bitumen cartel in Spain. The Commission found that these petroleum companies engaged in market sharing and price coordination between 1991 and 2002 for bitumen, which is used for road construction. BP was the first company to come forward with information about the cartel and, under the Commission's 2002 Leniency Notice, received immunity from fines. The Commission increased the fines by 30 per cent for Repsol and Proas (a subsidiary of Cepsa) for leading the cartel. Repsol and Cepsa, however, benefited from a reduction in fines of 40 per cent and 25 per cent respectively for their cooperation under the Commission's leniency programme
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Commission fines members of bitumen cartel EUR183 million
- McDermott Will & Emery
- Juan Gutiérrez
- European Union
- October 5 2007
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