Vivo Energy responds to report on Moroccan fuel retail industry
Vivo Energy
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07:36 25/07/22
Downstream petroleum company Vivo Energy's Moroccan subsidiary has received a report from investigators in charge of the Conseil de la Concurrence's ongoing review of the competitive dynamics of the African nation's fuel retail industry.
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Vivo, a retailer of Royal Dutch Shell-branded fuel products, said on Thursday that based on the procedures specified in the rules, Vivo Energy Maroc would have the opportunity to make further submissions to the CdC over the next two months before the report was submitted for review and a formal judgement on the matter.
The FTSE 250 constituent believes its Morrocan division conducted its operations in accordance with applicable competition laws, rules and regulations at all times, and vowed to make further announcements on the matter as and when necessary.
As of 0825 GMT, Vivo shares had inched ahead 0.34% to 117.60p.