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Wissol not Agrees with the Competition Agency’s Conclusion

Wissol company was the first among Georgian oil companies fined by the  Competition Agency  who  responded to the  CA  decision saying  that Wissol Pertrolium did not violate any of the requirements of the competition law. The company plans to further prove its case through the legal ways.

Wissol Group always welcomed and welcomes a competitive business environment in all sectors of the economy. Healthy competition is one of the main preconditions which makes us constantly mobilized and successfully and effectively do our job. From the very beginning we welcomed the setting and functioning of the Competition Agency in Georgia. Every entrepreneur is obliged to cooperate with this body  and comply with the competition law.

As for the Competition Agency’s decision concerning Wissol Petroleum, we would like to state that we have violated none of the requirements stipulated by the law on competition. Before taking a decision on the case,  on July 8, 2015 a meeting was held in the Competition Agency  with participation of all parties where we stated  our reasoned,  professional and objective position regarding the Agency’s  views  outlined in the draft decision.

Unfortunately for us, the Agency did not accept any of our objective arguments and negatively assessed our activities in respect of the law on competition. We declare that we  do not agree with this decision and, naturally, will try to prove our case  through the legal ways, “- a statement reads. Recall that yesterday the head of the Competition Agency   officially announced that  sanctions would  be imposed on five largest oil companies for violation of competition law.

We are talking about Wissol (a fine in the amount of  GEL 10 426 393), LUKOIL ( GEL 4 740 260), SOCAR (GEL 14 381 385), Rompetrol (GEL 10 885 806) and Gulf (GEL 11 267 384) and three economic agents  which have close relations with the abovementioned  companies. A total volume of the  fine reaches GEL  55 million.

Barabadze notes  that the Agency was given a 10-month deadline to complete the survey, but it  was finished in 8 months ahead of schedule. Based on the results, the Agency  came to the conclusion that in the years 2008-2014 the companies have violated the principles of competition on the market, imposed artificial barriers and set bargain  prices.