ExxonMobil Cyprus today announced it intends to challenge before the Administrative Court the decision by the Cyprus Commission for the Protection of Competition that ExxonMobil Cyprus violated competition laws by fixing prices with its dealers, and with which a fine was imposed on the Company.
ExxonMobil Cyprus wishes to note the following:
ExxonMobil Cyprus acted entirely within the law and accordingly there is absolutely no basis for the decision. The evidence presented to the Cyprus Competition Commission clearly showed that ExxonMobil Cyprus left its dealers entirely free to set their own pump prices. ExxonMobil Cyprus dealers overwhelmingly confirmed to the Commission that the company did not impose resale prices. There was no evidence of price-fixing, because no such activity ever occurred. When the Cyprus Competition Commission first imposed a fine on ExxonMobil Cyprus for the same matter in 2009, ExxonMobil Cyprus ceased recommending prices (a practice which is entirely legitimate and commonplace in many industries throughout Europe) and informed the Cyprus Competition Commission thereof. It is therefore with astonishment that ExxonMobil Cyprus has taken note of the view of the Cyprus Competition Commission that the so-called infringement would have been ongoing until 2015, even more so because there has never been any explanation or allegation on this point in the course of the proceedings against which ExxonMobil Cyprus has been able to defend itself.
ExxonMobil has operated responsibly and in strict compliance with competition laws in Cyprus for over 60 years. It is one of ExxonMobil Cyprus’s core policies to uphold the highest ethical standards and to comply with ALL applicable laws – including and specifically, competition laws. ExxonMobil Cyprus has a very strong competition law compliance program and expects its employees to observe the highest ethical standards. Honesty, integrity, and strict legal compliance are the cornerstones of the way ExxonMobil Cyprus conducts its business. Frequent training and regular reviews of the company’s business activities are conducted to ensure on-going compliance with these policies and laws.
ExxonMobil Cyprus Ltd
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