14 September 2006
ROYAL Dutch Shell, which had been enjoying a brief respite from regulators, has been fined £73m by the European Commission for its part in a cartel that fixed prices of road bitumen for eight years.
The EU fined 14 companies a total of £180m. Shell’s fine was the heaviest, and was raised by 50pc for its leading role in the cartel and lOpc for obstructing the probe. Shell’s shares closed down 12p to 1803p.
Others probed included Kuwait Petroleum, Total, and BP. By co¬operating, BP escaped a £20m fine.