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
Related content: Crackdown on Cartels Highlights the Need for Competition Law Compliance in South Africa (Heather Irvine, Norton Rose)
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