The Associated Press June 21, 2010, 1:57PM ET
SAfrican watchdog fines oil firms on price-fixing
JOHANNESBURG
South Africa’s anti-competition watchdog says that a number of international oil giants, including Chevron and Shell, are facing hefty fines for price collusion, a punishable offense in South Africa.
South Africa’s Competition Tribunal, which investigates companies’ competition conduct, said Monday that between 2000 and 2009 oil companies Chevron, Shell, Engen, Total, Masana, Sasol and Tosas colluded in fixing their products’ prices.