Turkey's energy watchdog gave five fuel oil companies administrative fines totaling 3.3 million Turkish liras (about $1.3 million).
The Turkish Energy Regulatory Market fined the companies under the cause of not monitoring their fuel oil sales through an automation system and continuing to sell the products despite not owning the proper equipment.
Other reasons include, not taking necessary precautions, acting against the regulations set by the license and law, using oil out of purpose and not paying fines in the given time frame.
Three companies were asked to write a defense statement for late fee payment and unlicensed acts. One company's license was revoked for untrue declarations.
- Change in oil market license regulation
The Turkish Energy Regulatory Market also changed two articles in the oil market license regulation.
Under the new regulation, dealership license holders can no longer sell fuel forms such as kerosene, fuel naphtha and biodiesel.
By Zeynep Beyza Karabay