Turkey's fuel distributor Petrol Ofisi (PTOFS.IS), or POAS, said Thursday the country's top administrative court, the Council of State, has canceled a 599.4 million Turkish lira ($402.6 million) fine against the company, the Ihlas News Agency, or IHA, reported.
Turkish energy market regulator EPDK in 2006 fined Petrol Ofisi and its unit Erk Petrol Yatirimlari A.S. a total of TRY599.4 million over operations which were allegedly contrary to legislation.