S. Africa Watchdog Urges Fines In Bitumen Probe

Law360, New York (March 4, 2010, 2:23 PM EST) -- South Africa's Competition Commission has asked the country's Competition Tribunal to fine a group of major oil companies for manipulating the market for bitumen, a byproduct of oil refining used in making asphalt for roads.

On Thursday, the commission referred its findings of price-fixing in the supply of bitumen to the tribunal, urging that several oil companies, including Chevron SA Ltd., Engen Petroleum Ltd., Shell SA Ltd. and Total SA Ltd., be subject to an administrative penalty of 10 percent of 2009 sales.

A settlement has...
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