Bloomberg News

Price-Fixing Suits Over OPEC Rejected by U.S. Supreme Court

October 03, 2011

Oct. 3 (Bloomberg) -- The U.S. Supreme Court refused to revive two price-fixing lawsuits pressed by gasoline retailers against OPEC-affiliated companies including Venezuela’s state- owned Citgo Petroleum Corp.

The justices today left intact a federal appeals court ruling that said the antitrust lawsuits couldn’t go forward because they would improperly embroil the judiciary in questions of defense and foreign policy.

Most of the defendants were at least partly owned by a foreign government that belongs to the Organization of Petroleum Exporting Countries. The suits also named the Saudi-owned Saudi Arabian Oil Co., known as Saudi Aramco; Motiva Enterprises LLC, a refining company owned jointly by Royal Dutch Shell Plc and Saudi Aramco; and units of OAO Lukoil, Russia’s second-largest oil producer.

The cases are Spectrum Stores v. Citgo, 10-1371, and Fast Break Foods v. Saudi Arabian Oil, 10-1393.

--Editors: Justin Blum, Laurie Asseo.

To contact the reporter on this story: Greg Stohr in Washington at gstohr@bloomberg.net.

To contact the editor responsible for this story: Mark Silva at msilva34@bloomberg.net.


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