It seems that oil companies are not satisfied raking in billions as oil prices maintain their record highs - now, nine of them have been fined a total of €676 million  by the European Commission for operating what it called a price-fixing "paraffin mafia". (See: Record oil prices send Exxon and Shell quarterly profits to record highs)

The nine companies which have been fined are US giant Exxon Mobil, Repsol of Spain; Italy's ENI, Tudapetrol, Hansen & Rosenthal and RWE of Germany, France's Total, and MOL of Hungary. A 10th firm, the Anglo-Dutch oil firm Shell, escaped a fine as it blew the whistle on the cartel's activities.

Sasol Ltd., South Africa's biggest fuel supplier, was fined €318 million, the highest penalty levied on the nine wax producers by the European Commission in Brussels. Total, Europe's third-largest oil company, was fined €128 million.

Irving, Texas-based Exxon Mobil, the world's biggest oil company, was fined €83.6 million euros and Repsol YPF SA, Spain's largest oil company, received a €19.8 million penalty. Royal Dutch Shell Plc, Europe's largest oil company, avoided a €96 million fine because it was the first company to cooperate with inspectors.

''There is probably not a household or company in Europe that has not bought products affected by this `paraffin mafia' cartel,'' said EU Competition Commissioner Neelie Kroes in a statement. ''Such illegal cartel behavior cannot and will not be tolerated.''

Kroes has made fighting cartels one of her main priorities since her five-year term began in 2004. The penalties are the fifth this year and the fourth highest against a single cartel. The biggest price-fixing fine was €992.3 million in 2007 against five elevator makers. Similar penalties imposed earlier include a €750.5 million fine on switchgear makers and a €790.5 million fine on vitamin manufacturers.

Paraffin, one of the byproducts of oil refining, is used in candles, waxed paper, paper cups and plates, as well as in chemicals and car components. Kroes said the fines are high because the conspiracy lasted 13 years and the market for paraffin wax is worth €500 million a year.

The cartel ran from 1992 to 2005. Conspirators first met at the Blauer Salon or Blue Saloon in Hamburg, Germany. Shell referred to the price-fixing as the ''paraffin mafia'' in internal documents, Kroes said. Other meetings were held in ''top hotels'' in Milan, Vienna, Budapest, Paris, Munich and Strasbourg, France, she said.

Sasol's penalty was increased by 50 per cent because it was the cartel's leader. The fine for ENI was increased by 60 per cent to €29.1 million because it previously took part in cartels, according to the commission. ENI had earlier participated in the PVC and polypropylene cartels in the 1990s and 1980s, the commission said.

Reactions to the commission's action ranged from contrite to surprise. While Exxon Mobil said in a statement that it ''deeply regrets its involvement'' in the cartel and the conduct was limited to the participation of a few of the company's former employees, Sasol expressed surprise and said that it ''does not understand the reasons for the magnitude of this fine and will be studying the reasons for the finding.''