Estimating Damages of Oil Scandal Skip to content

Estimating Damages of Oil Scandal

The Mayor of Reykjavik, Steinunn Valdis Oskarsdóttir, has made claims on behalf of the City against the three oil companies involved in a price fixing scandal.

When seeking contracts to supply Reykjavik with services, such as gas for city busses, Olís, Shell and Esso were found to have made secret agreements to fix the price, and whichever oil company won the bid, would then share the profits with the other two companies on a per liter basis.

While the Mayor has drawn up documents with a lawyer, there was no comment on the amount of damages the City is seeking.

Ms. Oskarsdóttir was appointed mayor after Thórólfur Árnason was forced to resign last November for his role in the price fixing scandal.

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