Shell had lobbied against tighter regulation: Sunday Telegraph

5/19/2013

Shell had lobbied against tighter regulation: Sunday Telegraph

LONDON -- Shell, last year argued against proposed European rules designed to tighten scrutiny of commodity markets, according to documents obtained by the Sunday Telegraph.

Last week, European regulators conducted probes of oil companies, including Shell, BP and Statoil, as well as Platts. EU officials said they are looking into possible manipulation of the oil prices Platts publishes.

In a presentation in September to the European Union and industry, Shell said proposals designed to reform commodity market trading would add costs and lead to higher bills for consumers, the Sunday Telegraph said.

A spokeswoman at Shell declined to comment on the article.

Dow Jones Newswires

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