EU opens in-depth probe of Statoil-Conoco deal

BRUSSELS, May 14 (Reuters) - The European Commission ordered an in-depth investigation on Wednesday into plans by Norway's Statoil (STL.OL: Quote, Profile, Research) to buy 274 Jet-branded automated petrol stations in Norway, Sweden and Denmark from ConocoPhillips (COP.N: Quote, Profile, Research).

The Commission said the two companies overlap in the market for retail motor fuel supply and that price competition might be affected by the deal.

"The Commission's initial investigation showed that this overlap might create competitive concerns in Sweden and Norway, where Jet may exert competitive pressure on Statoil leading to a significant impact on Statoil's retail prices," the Commission said in a statement.

The Commission's investigation into the deal, which covers automated stations -- 39 in Norway, and 72 and 163 in Denmark and Sweden respectively -- will last until Sept. 18.

Competition Commissioner Neelie Kroes said that rising oil prices make it important to have competition at the retail level for gasoline stations.

"It appears that Jet has until now kept a downward price pressure on Statoil and that pressure may be permanently lost after the merger. We now need to find out if a more detailed investigation confirms this initial view," she said. (Reporting by David Lawsky; editing by Mark John)