NOPEC

No Oil Producing and Exporting Cartels Act of 2018 or NOPEC

This bill amends the Sherman Act to prohibit a foreign state from engaging in collective action impacting the market, supply, price or distribution of oil, natural gas, or other petroleum product in the U.S. Specifically, a foreign state is prohibited from:

• collective action that limits the production or distribution of such product,
• collective action to set or maintain the price of such product, or
• any other action that restrains trade of such product.

Sovereign immunity (i.e., a foreign state's immunity from the jurisdiction of U.S. courts) and the act of state doctrine (i.e., the prohibition of a court invalidating an official act of a foreign sovereign performed within its own territory) shall not apply to a foreign state's violation of this bill.