Latvia may revoke retail trading license of Statoil Latvia

Sep 14, 2001 02:00 AM

Latvia's State Revenue Service warned it may revoke the retail trading license of the Latvian subsidiary of the Norwegian fuel company Statoil for incorrect reporting of transactions. "The State Revenue Service doesn't believe this is just accidental under-reporting," said SRS spokeswoman Dita Klavina. "We don't trust Statoil."
Statoil did not inform the SRS in August it was beginning to sell liquid propane gas at one station, which followed "several other irregularities" such as selling contaminated petrol last spring, the spokeswoman said.

The SRS's licensing committee will meet to decide whether to revoke the licence of Statoil Latvia, which is the Baltic country's leading car fuel retailer. It has a 16-19 % share of the market, where it operates 34 filling stations. Statoil Latvia managing director Baiba Rubess said the company had not been officially informed of the accusations.

Source: AFP
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