ENGEN Petroleum and Shell SA will pay R28.8-million and R26.2-million respectively in penalties as part of a settlement deal with the Competition Commission after their involvement in bitumen price-fixing.
The authority said yesterday the two firms had admitted to having fixed the price with other oil companies.
Bitumen is one of the by-products of refining crude oil.
Engen, Shell fined millions
ENGEN Petroleum and Shell SA will pay R28.8-million and R26.2-million respectively in penalties as part of a settlement deal with the Competition Commission after their involvement in bitumen price-fixing.
The authority said yesterday the two firms had admitted to having fixed the price with other oil companies.
Bitumen is one of the by-products of refining crude oil.