Statement by TotalEnergies Following the French Competition Authority's Decision relating to the Supply of Petroleum Products in Corsica
France, Nov. 18 -- TotalEnergies takes note, while contesting the merits, of yesterday's decision issued by the French Competition Authority regarding the supply of petroleum products in Corsica, which imposes a fine on the Company.TotalEnergies observes that the Authority's position, after four years of investigation and numerous hearings and on-site visits, is not supported by any tangible evidence of any potential anti-competitive effect in Corsica. The decision is based solely on a 2016 contractual clause governing access to Corsica's oil depots for shareholders who have invested in these depots, while a contractual fuel supply arrangement was also available to distributors who were not shareholders.TotalEnergies regrets that the Author...
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