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South Africa: Oil companies’ antitrust violations case referred for adjudication

By  |  October 24, 2012
South Africa: Oil companies’ antitrust violations case referred for adjudication

The Competition Commission has referred a case for adjudication to the Competition Tribunal regarding price fixing and market division among several oil companies, including Chevron, Engen, Shell, Total, Sasol, BP and South African Petroleum Industry Association. The Commission has also asked the Tribunal to levy a fine equal to 10 percent of each company’s revenue in the upcoming financial year. The charges are an extension of an investigation by the Commission extending back to January 2009, but the violations allegedly span back to the 1980s. According to the investigation, companies shared monthly sales volumes to defined customer groups in each magisterial district for various oil product categories.

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    Full Content: Reuters

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