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Engen and Shell fined for bitumen price-fixing

 |  February 21, 2012

The South African Competition Commission has fined Engen Petroleum and Shell South Africa for fixing the price of bitumen with other oil companies. Bitumen is a crude oil refining byproduct that is used in road maintenance. The companies had set a reference point among themselves, and also established a monthly price adjustment mechanism.

As part of the settlement, Engen will pay R28.8m in fines; Shell South Africa will pay R26.259m.

Source: fin24

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