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06.09.2010
Home » News » Sasol Oil cooperates with Competition Commission in bitumen pricing cas
06.03.2010

Sasol Oil cooperates with Competition Commission in bitumen pricing cas

  Sasol Oil and Tosas, as leniency applicants, have been granted conditional immunity from prosecution and no penalty will be sought by the Commission against Sasol or its subsidiaries subject to the leniency becoming unconditional.
As announced by Sasol on 19 January 2009, the company's proactive competition law compliance review revealed initial concerns of non-compliance with competition laws, relating to Sasol Oil. Sasol confirmed at the time that it was cooperating with the Competition in its investigation into bitumen pricing.
The area of concern relates to the use of a bitumen pricing methodology agreement reached within the South African Bitumen and Tar Association (SABITA), of which Sasol Oil and Tosas are members, along with other oil companies.
While we regret this contravention, we hold the view that it was of a technical nature and was not secretive. The agreement on the pricing methodology by SABITA was at the request of the customers of SABITA members.
Our proactive review into competition law compliance revealed this matter in September 2008 and lead to the granting of this conditional leniency.


 

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