The Spanish Supreme Court finds an oil distribution agreement to benefit from the exemption laid down in EC Reg. 1984/83 (Gabai Oil)

On 18 July 1989, Gabai Oil, S.A. (‘hereinafter, ‘Gabai Oil') and Petróleos del Norte, S.A. (‘Petronor') concluded an agreement for a period of 35 years regarding the distribution by the former of oil products supplied by the latter. Besides the non-compete obligation imposed upon Gabai Oil, Petronor has agreed to grant its contractual partner a ESP 40 million (€ 240.000) loan, with a 9% interest rate, to be returned after five years. The parties further agreed that Petronor would pay up to ESP 81.000.000 (€ 500.000)

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Pablo Ibáñez Colomo, The Spanish Supreme Court finds an oil distribution agreement to benefit from the exemption laid down in EC Reg. 1984/83 (Gabai Oil), 15 March 2001, e-Competitions March 2001, Art. N° 1154

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