Energy giants Exxon Mobil, Total and Eni were expected to be fined by the European Union (EU) antitrust regulators for their alleged price-fixing of paraffin wax used in candles and waxed paper.

EU antitrust regulators would announce the decision later today, sources familiar with the case said.

The European Commission press service said in a email to journalists that EU Competition Commissioner Neelie Kroes, who led a vigilant fight against cartel, would hold a press conference at noon on competition decisions.

If found guilty, companies involved in price-fixing cartel could face fines up to ten percent of their annual global turnover.

(Xinhua News Agency October 1, 2008)