Morocco Imposes $183 Million Fine on Oil Companies for Antitrust Violations

The verdict is in. The Competition Council (CC) unanimously decided to validate the settlement agreements concluded. "These agreements thus put an end to the contentious procedures opened against these companies and their professional organization, which were notified of this decision on November 23, 2023," the CC said in a statement. The institution will specify that "these agreements cover the payment, as a transactional settlement, of a total amount of 1,840,410,426 DH for all the companies concerned and their professional organization, as well as the subscription to a set of behavioral commitments to which these companies and their professional organization have subscribed in order to improve the competitive functioning of the hydrocarbons market in the future."

These agreements also include behavioral commitments aimed at improving competition in the hydrocarbons market. The nine companies identified for anti-competitive practices in the hydrocarbons market undertake to implement a compliance program with competition law, including a risk mapping and internal alert systems, as well as the appointment, by their governing bodies, of an internal officer responsible for the implementation and monitoring of the compliance program. These companies are also required to provide detailed quarterly reports on their activities of supply, storage, and distribution of Diesel and Gasoline, allowing the Council to monitor the competitive functioning of these markets.

The companies also undertake to adjust their prices according to supply and demand, and to allow independent service stations to change prices without prior approval, but also not to link the benefit of rebate or discount programs, or any similar program that service stations may benefit from, to compliance by the service station with the prices recommended by the latter. These measures aim to prevent the risk of harm to competition for the benefit of consumers and to ensure increased transparency in the hydrocarbons sector.