Slovakia's supreme court has reduced a price-fixing fine for refiner Slovnaft AS (SLN.BS) by nearly 500 million Slovak koruna to SKK838 million ($25.5 million), Hungarian business daily Napi Gazdasag said Friday.
Slovnaft is a subsidiary of Hungarian oil and gas company MOL Nyrt. (MOL.BU).
The Slovak court said the finance ministry's initial fine of SKK1.34 billion levied in 2005 was based on miscalculations.
The Slovak finance ministry originally ruled the company had practised illegal accounting and set artificially high prices between 2002 and 2004.