APPROVE MARATHON PETRO ROYALTY OIL SALE

Plain English Breakdown

The official source does not provide specific details on why Marathon Petroleum Supply and Trading Company LLC was chosen for the sale or the exact terms of the sale agreement.

Approving the Sale of Alaska's Royalty Oil to Marathon Petroleum

This act approves and confirms a contract for the State of Alaska to sell royalty oil to Marathon Petroleum Supply and Trading Company LLC.

What This Bill Does

• Approves a sale agreement between the State of Alaska and Marathon Petroleum Supply and Trading Company LLC.

Who It Names or Affects

• The State of Alaska
• Marathon Petroleum Supply and Trading Company LLC

Terms To Know

Royalty oil

Oil that is given to the government as a share from companies drilling for oil.

Effective date

The day when a law starts working or becomes active.

Limits and Unknowns

• Does not provide details about how much oil will be sold or the price.
• Does not explain why this specific company was chosen for the sale.

Official Summary Text

APPROVE MARATHON PETRO ROYALTY OIL SALE
An Act approving and ratifying the sale of royalty oil by the State of Alaska to Marathon Petroleum Supply and Trading Company LLC; and providing for an effective date.

Current Bill Text

SB0176A -1- SB 176
New Text Underlined [DELETED TEXT BRACKETED]

34-GS1086\A

SENATE BILL NO. 176

IN THE LEGISLATURE OF THE STATE OF ALASKA

THIRTY-FOURTH LEGISLATURE - FIRST SESSION

BY THE SENATE RULES COMMITTEE BY REQUEST OF THE GOVERNOR

Introduced: 4/15/25
Referred: Resources, Finance

A BILL

FOR AN ACT ENTITLED

"An Act approving and ratifying the sale of royalty oil by the State of Alaska to 1
Marathon Petroleum Supply and Tr ading Company LLC; and providin g for an 2
effective date." 3
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 4
* Section 1. The uncodified law of the State of Alaska is amended by adding a new section 5
to read: 6
ROYALTY OIL SALE CONTRACT WITH MARATHON PETROLEUM SUPPLY 7
AND TRADING COMPANY LLC APPROVED AND RATIFIED. In accordance wi th 8
AS 38.06.055, the legislature approves and ratifies the Agreeme nt for the Sale of Royalty Oil 9
between and among the State of Alaska, Marathon Petroleum Suppl y and Trading Company 10
LLC, a Delaware Limited Liability Company, and Marathon Petrole um Corporation, a 11
Delaware Corporation, attached as Exhibit 1 to the "Final Best Interest Finding and 12
Determination for the Sale of Alaska North Slope Royalty Oil to Marathon Petroleum Supply 13
and Trading Company LLC" dated April 14, 2025. 14
34-GS1086\A
SB 176 -2- SB0176A
New Text Underlined [DELETED TEXT BRACKETED]

* Sec. 2. This Act takes effect immediately under AS 01.10.070(c). 1