The findings of analysis of the state of competition on the wholesale market of residual oil

The objective was to analyze and evaluate the state of competitive environment on the wholesale market of residual oil and identifying economic entities with the dominant position.

The study established that:

In 2011, the aggregate market share of “Gazprom Neft” OJSC, “Rosneft” NK” OJSC and “Bashneft” ANK” OJSC on the wholesale residual oil market in the Russian Federation exceeded 70%. The share of each company was over 8%, exceeding shares of other economic entities on the relevant market in the Russian Federation. Each company was recognized as having dominant position on the wholesale market of residual oil and it had additional possibility to influence considerably the main conditions of goods circulation on the analyzed market (Part 3 Article 5 of the Federal Law “On Protection of Competition”);

In 2012, the aggregate market share of “Gazprom Neft” OJSC, “Rosneft” NK” OJSC and “Bashneft” ANK” OJSC on the wholesale residual oil market in the Russian Federation exceeded 70%. The share of each company was over 8%, exceeding shares of other economic entities on the relevant market in the Russian Federation. Each company was recognized as having dominant position on the wholesale market of residual oil and it had additional possibility to influence considerably the main conditions of goods circulation on the analyzed market (Part 3 Article 5 of the Federal Law “On Protection of Competition”);

In 2013, the aggregate market share of “Gazprom Neft” OJSC, “Rosneft” NK” OJSC and “Bashneft” ANK” OJSC, “LUKOIL” OJSC and “Antipinsky Refinary” CJSC on the wholesale residual oil market in the Russian Federation exceeded 70%. The share of each company was over 8%, exceeding shares of other economic entities on the relevant market in the Russian Federation. Each company was recognized as having dominant position on the wholesale market of residual oil and it had additional possibility to influence considerably the main conditions of goods circulation on the analyzed market (Part 3 Article 5 of the Federal Law “On Protection of Competition”);

According to the Head of FAS Department for Control over Fuel-and-Energy Complex, Dmitry Makhonin, FAS will analyze the state of competition on the wholesale residual oil market annually. He emphasized that “such analysis shall also encourage economic entities with the dominant position on the relevant wholesale markets to take part in exchange trading”.