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Fuel firms given leeway on sharing data

Oct 11 2011 08:01 Reuters

Company Data

Sasol Ltd [JSE : SOL]

Last traded R353.58
Change R-2.42
% Change -0.68%
Cumulative volume 999,481
Market cap R227.90bn

Last Updated: 25/05/2012 at 19:32. Prices are delayed by 15 minutes. Source: McGregor BFA

 

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Johannesburg - The Competition Commission has granted South African Petroleum Industry Association (Sapia) members permission to share data on logistics and supply agreements to ensure stable availability of fuel in the country.

The commission, however, said the exemption does not apply to sharing information relating to setting margins, imposition of levies and the approval of tariffs, unless required to do so by the department of energy and the national energy regulator.

The exemption commenced on October 3 and will run to end December 2015, the commission said in a statement posted on its website on Monday.

Sapia members include BP Southern Africa, Chevron South Africa, Engen, PetroSA, Sasol [JSE:SOL], Shell SA and Total South Africa.

The commission also said Sapia must open up its membership - currently restricted to refineries - to accommodate both existing and potential marketers in the petroleum and refinery industry on fair and transparent basis.

"This will allow existing and potential marketers to benefit from the exempted agreements and practices, which otherwise would not have been the case," it said.

 

 
 
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