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| Koch Petroleum
Group and Subsidiary Settle Antiboycott Allegations |
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| February 20, 2002 |
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| 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. |
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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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