Bulgarian competition regulator fines NIS Petrol for false ads Bulgaria's competition regulator said it fined oil and gas distributor NIS Petrol BGN 147,000 for misleading advertising. NIS Petrol is a unit of a wholly-owned subsidiary of Serbian oil and gas company NIS, which in turn is majority-owned by Russia's Gazprom Neft. The Commission for Protection of Competition established that NIS Petrol has been advertising a discount on fuel sold at its petrol stations as bigger than the one that customers actually received, it said in a press release on Monday. NIS Petrol operates 35 petrol stations in Bulgaria, all under the Gazprom brand. Serbia's NIS, 56.15%-owned by Russia's Gazprom Neft, is one of the largest vertically integrated oil and gas companies in Southeast Europe. Its main activities include the exploration, production and processing of oil and gas, as well as the production and trade with a wide range of petroleum products.
Source: Monitor (23.06.2015)