South Africa: Competition Commission Launches Investigation
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Friday, 23 January 2009 |
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South Africa's Competition Commission said it has launched an
investigation into a possible price-fixing cartel among gas and
petroleum companies after being tipped off by Sasol Ltd.
The Johannesburg-based oil and gas company, the world's largest
producer of motor fuels from coal, approached the commission for
leniency, the antitrust authority said. Sasol has already run up
against competition regulators in recent months. In October, it was hit
with a €318.2 million ($422.9 million) fine by the European Commission
for its role in fixing prices and markets for paraffin wax (See
PetorlWorld Archives).
The company said the possible competition violations emerged in a
review of its competition-law compliance begun last July. It was
cooperating with the commission in its investigations, it added.
The competition regulator said it was also investigating Egoli Gas
(Pty) Ltd., Spring Lights Gas (Pty) Ltd. and Coal Energy & Power
Resources Ltd., looking into suspected market allocation and
price-fixing agreements for piped gas. Neither Egoli, nor Spring Lights
or Coal Energy & Power Resources could be reached for comment.
In addition, the regulator said, it was probing anticompetitive conduct
related to petroleum products, and cited past and present members of
the South African Petroleum Industry Association, the Southern African
Bitumen and Tar Association.
The South African Petroleum Industry Association (SAPIA) indicated to
PetrolWorld that it has noted through the media that the Competition
Commission South Africa has initiated an investigation into
anti-competitive conduct in relation to a range of products in the
petroleum value chain and SAPIA has said it will co-operate with the
Competition Commission.
PetrolWorld 220109 Source: SAPIA + News Agency
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