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NC KazMunayGas JSC was reportedly fined 500 million tenge for violating anti-monopoly law Tengri News Network Reference to the Competition Protection and Development Authority.
The Astana Agency for Competition Protection and Development, together with the Prosecutor’s Office, reportedly conducted an inspection of KazMunayGas’ compliance with antitrust laws during 2023.
The audit results showed that the company’s actions constituted an abuse of its dominant position in the market for restricting the sale of petroleum products.
“Thus, the company, between January and April 2023, ignored the applications submitted for the sale of petroleum products and, in some cases, created discriminatory conditions by reducing the amount of petroleum products sold to individual buyers, if it was possible to sell the petroleum products at the time of the application,” the statement said.
The department initiated administrative proceedings against KazMunayGas under Article 159, Part 3-1, of the Administrative Offences Code of the Republic of Kazakhstan. According to the decision of the Astana Special Interdistrict Court for Administrative Offences on June 27, the company Administrative liability of 539.4 million tenge.
It is reported that the fine has been paid in full.
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