THE WALL STREET JOURNAL: Swedish Court Raises Fines For Five Gasoline Companies: “The Swedish Market Court Tuesday increased the fines against five oil and gas companies convicted of price fixing in Sweden in 2003”: “The court said Statoil ASA, Shell , OKQ8, Preem and Norsk Hydro ASA should pay a combined 112 million kronor ($1=SEK6.88716) for coordinating gas prices and discounts in 1999, more than doubling an original fine of SEK52 million set by the Stockholm District Court in 2003. The verdict is final and cannot be appealed. (ShellNews.net) Posted 23 Feb 05

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STOCKHOLM (AP)--The Swedish Market Court Tuesday increased the fines against five oil and gas companies convicted of price fixing in Sweden in 2003.

The court said Statoil ASA (STO), Shell , OKQ8, Preem and Norsk Hydro ASA (NHY) should pay a combined 112 million kronor ($1=SEK6.88716) for coordinating gas prices and discounts in 1999, more than doubling an original fine of SEK52 million set by the Stockholm District Court in 2003.

The verdict is final and cannot be appealed.

The competition authority sued the five companies for about SEK400 million, saying they had fixed prices and discounts at meetings supposed to focus on environmental issues.

The largest fines were SEK50 million imposed on Statoil and SEK 25 million handed down to OKQ8.

Statoil spokesman Ulf Svahn said the company did not immediately want to comment on the verdict.

"We're still looking through the ruling," he said.