| The Commerce Department's Bureau of
Export Administration (BXA) announced today that two affiliated crude oil
trading companies – Koch Petroleum Group, L.P., a Wichita, Kansas limited
partnership, and Koch Refining International Pte. Ltd., Koch Petroleum Group's
wholly-owned subsidiary in Singapore – have agreed to pay a total of
$37,000 to settle allegations that the companies committed 37 violations of the
antiboycott provisions of the Export Administration Regulations. The companies
voluntarily disclosed the transactions that led to the allegations and
cooperated fully with the subsequent investigation. |
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| The antiboycott regulations prohibit
U.S. persons, including foreign subsidiaries of U.S. companies, from complying
with certain aspects of unsanctioned foreign boycotts. In addition, the
antiboycott regulations require that U.S. persons report their receipt of
certain boycott requests to BXA's Office of Antiboycott Compliance. |
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| BXA alleged that, between 1996 and
1999, the companies failed to report within the time period prescribed by the
regulations their receipt of boycott requests in 37 transactions. The boycott
requests involved prohibitions on the sale of crude oil to Israel that Koch
Petroleum Group and its affiliate purchased from Brunei, Gabon, Indonesia,
Nigeria, Oman, and the United Arab Emirates. The antiboycott regulations permit
compliance with such requests, but all U.S. persons must file a report upon
their receipt of such requests. |
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| Koch Petroleum Group, L.P. agreed to
pay a $16,000 civil penalty to settle 16 alleged violations. Koch Refining
International Pte. Ltd. agreed to pay a $21,000 civil penalty to settle 21
alleged violations. |
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| Assistant Secretary of Commerce for
Export Enforcement Michael J. Garcia commended the efforts of Senior Compliance
Officer Shirley Rockenbaugh, who conducted the investigation for the Office of
Antiboycott Compliance. |
| |
Reprinted from the
US Department of
Commerce
Bureau of Industry and Security
http://www.bis.doc.gov/press/2002/KochPetroNSubsSettle.html |
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