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Lukoil Fined $225 Million In Russia Fuel-Market Probe

MOSCOW -(Dow Jones)- Russian non-state oil giant OAO Lukoil (LKOH.RS) was fined RUB6.55 billion ($225 million) Thursday by the Russian antitrust regulator for abusing its dominant position in the refined oil-products market.

The alleged violations stem from sales of gasoline, diesel, and jet fuel in the first half of 2009, the Federal Anti-Monopoly Service said on its Web site.

"Lukoil does not agree with the decision," a company spokesman said Thursday. "This fine will be contested in accordance with existing legislation."

State-controlled oil company OAO Rosneft (ROSN.RS) was fined $182.4 million by antitrust officials last month for abusing its position in the wholesale fuel market in the first six months of 2009, and OAO Gazprom Neft (SIBN.RS) and TNK- BP (TNBP.RS), BP PLC's joint venture in Russia, have also been implicated in the probe.

Federal Anti-Monopoly Service press release: http://www.fas.gov.ru/news/n_ 27473.shtml

-By William Mauldin, Dow Jones Newswires; +7 495 937 8445; william.mauldin@ dowjones.com

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