Home / News / Anti-monopoly measures taken against Saudi energy company

Anti-monopoly measures taken against Saudi energy company

The General Authority for Competition (GAC) imposed on Jan. 14, a fine of SR3 million ($800,000) on National Gas and Industrialization Co. (GASCO), as the company abused its dominant position, the authority said on its Twitter account.

According to GAC, GASCO imposed special conditions on the purchase and sale transactions when dealing with another institution, in a manner that places it in a weaker position compared to other competitors.

The gas producer also refused to deal with another entity without justification to limit its access to the market.

The ruling is upheld by Riyadh Administrative Court.

Source: Arab News

Total Page Visits: 84 - Today Page Visits: 1

Check Also

US government charges facebook with racist employment practices

A U.S. agency investigating Facebook Inc for racial bias in hiring and promotions has designated …

Leave a Reply

Your email address will not be published. Required fields are marked *