South Africa’s Competition Commission has recommended the maximum penalty in a price-fixing case spanning decades that involves six companies including Chevron Corp. (CVX), Royal Dutch Shell Plc (RDSA) and Total SA. (FP)
The regulator, which has referred the matter to the Competition Tribunal for adjudication, wants the companies to be fined 10 percent of their revenues in the preceding financial year, it said in a statement today.
The investigation “revealed collusive conduct through extensive exchanges of commercially sensitive information by the respondent oil companies,” which also include Engen (ENGN) Ltd., Sasol Ltd. (SOL), BP SA and the South African Petroleum Industry Association, or Sapia, the Pretoria-based commission said.
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