Albatross and Petrel Conservation Act This bill authorizes the United States Fish and Wildlife Service (USFWS) and the National Marine Fisheries Service (NMFS) to issue regulations to implement and enforce the Agreement on the Conservation of Albatrosses and Petrels, done at Cape Town, South Africa, on February 2, 2001. Specifically, the USFWS and the NMFS may take action to protect albatrosses and petrels and their habitats. The bill prohibits the taking of an albatross or petrel without a permit, authorization, or exemption. The FWS, in consultation with the NMFS, may authorize the taking of an albatross or petrel under exceptional circumstances or incidental to otherwise lawful activities. The bill gives the USFWS, the NMFS, and the Coast Guard authority to enforce this bill. Finally, the bill authorizes cooperation with other countries to achieve and maintain a favorable conservation status of albatrosses and petrels.