Violation and Penalty
PetroChina International America, a unit of PetroChina, has agreed to pay a total of $14.5 million in fines and forfeitures for violations of U.S. export law, the Justice Department announced on Tuesday.
Inaccurate Reporting Discovered
Authorities uncovered evidence that the company had reported inaccurate information in the electronic database used by exporters to declare international exports from the United States. The U.S. Attorney’s Office for the Southern District of Texas disclosed this in a press release.
Misclassification of Exports
According to the U.S. Attorney’s Office, PetroChina International America misclassified over $32 million worth of ultra-low-sulfur diesel fuel as mineral oil mix for certain export transactions to Mexico during 2019 and 2020. This misclassification constituted a significant violation of export regulations.
Cooperation and Compliance
The company has fully cooperated with the investigation into these violations and has taken steps to enhance its compliance program, the U.S. Attorney’s Office added.
No Immediate Response
PetroChina International America has not yet responded to requests for comment regarding the fine and forfeiture.
