2023-11-24 23:14:00
More than 165 million euros in fines (1.84 billion dirhams) for nine oil companies accused of anti-competitive practices in the hydrocarbon distribution market in Morocco. This decision was announced Thursday, November 23 by the competition council, whose investigation revealed collusion between these companies. The French TotalEnergie is one of the companies in question, as is Afriquia, owned by the current Moroccan Prime Minister.
Published on: 11/25/2023 – 00:14
1 mn
A financial agreement concluded this sensitive matter, which has seen many twists and turns.
The competition authority concluded an agreement in 2020 between the three main oil companies operating in Morocco, but its recommendations on the financial sanction to be applied had not been followed.
The French Total, Afriquia, Vivo Energy and six other oil companies identified will this time have to pay a total amount equivalent to more than 165 million euros.
In 2018, a parliamentary committee suggested that their agreement would have allowed them to reap margins at the pump amounting to nearly one and a half billion euros since 2015, that is to say the year when Morocco has liberalized the sector and lifted fuel subsidies.
Since then, importers have greatly increased their margins, but the almost identical prices from one station to another fueled suspicion.
In addition to paying a fine, oil companies will also be forced to submit to a set of commitments in order to better respect competition rules, for the benefit of the consumer.
This three-year compliance program will be supervised by the Competition Council, which hopes to perpetuate good practices in the sector.
1700884253
#oil #firms #sanctioned #anticompetitive #practices