Several European companies, including Repsol, Eni, Total and Hansen & Rosenthal, are reportedly under investigation by the European Commission over allegations of fixing the price of paraffin wax.
Spanish oil giant Repsol said that it had co-operated with the investigation after being sent a charge sheet from the European Commission (EC) and that the company spoke to investigators late last year.
The commission announced its investigation into the suspected wax cartel last June, although it did not name any companies at the time.
According to media reports, Italy’s Eni and France’s Total are also under investigation, along with South African company Sasol and German-based Hansen & Rosenthal.
Spanish newspaper, El Pais, quoted a Repsol source as saying that one of the company’s subsidiaries had been involved in the cartel before Antonio Brufau took over as chairman in 2003.
It has been reported that Repsol has set aside E40 million to cover possible fines.