AFX
Europe (Focus): Shell admits role in EU bitumen investigation: “Royal
Dutch/Shell Group said it is involved in the European Commission's investigation
into alleged cartel-forming in the bitumen market. In late 2002 the commission
raided the offices of a number of oil companies including Shell…”: "We are
concerned about this issue," said Rein Williams, president of Shell Nederland
BV. "We should not have been present at these meetings and we regret our
connection to this case."
(ShellNews.net)
Posted Oct 22, 2004
AMSTERDAM (AFX) - Royal Dutch/Shell Group said it is involved in the European Commission's investigation into alleged cartel-forming in the bitumen market.
In late 2002 the commission raided the offices of a number of oil companies including Shell, BP PLC and ExxonMobil Corp, which produce the tar-like product bitumen for road surfacing.
The commission has been investigating the market for the past two years and has accused 14 companies, including Shell, of breaking competition law by coordinating activities on the Dutch market in 2002, the company said.
Shell admitted that it was present at certain meetings with road construction companies and bitumen distributors and provided the EU with details already last year.
"We are concerned about this issue," said Rein Williams, president of Shell Nederland BV. "We should not have been present at these meetings and we regret our connection to this case."
Shell said it will study a notice of objections it received from the commission and continue to cooperate fully with the authorities.
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