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Alba Petróleos fined $760,000 in El Salvador

Tuesday, November 19, 2013

El Salvador's antitrust watchdog has fined Venezuela-led Alba Petróleos $760,000, after the company failed to ask for authorization for the purchase of nine gasoline stations.

Salvadoran authorities gave Alba 30 days to present a permit for the purchase of the stations.

The fine comes as Spain's University of Salamanca released a study where it shows Alba taking advantage of its relationship with the ruling FMLN party, which creates an unfair environment for other energy sector companies operating in the country.

Full story (in Spanish)