APPROVE MARATHON PETRO ROYALTY OIL SALE

Plain English Breakdown

The specific terms, price, volume, and duration of the sale are contained only in Exhibit 1, which is referenced but not included in the provided text.

Alaska Approves Sale of Royalty Oil to Marathon Petroleum

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

What This Bill Does

• Approves an agreement between the state, Marathon Petroleum Supply and Trading Company LLC (a Delaware Limited Liability Company), and Marathon Petroleum Corporation (a Delaware Corporation).
• Ratifies the sale of royalty oil under existing state law AS 38.06.055.
• Attaches a specific contract document to this bill as Exhibit 1.

Who It Names or Affects

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

Terms To Know

Royalty oil

Oil that the state owns as a share from production on public lands.

Ratifies

Officially approves or confirms an agreement so it becomes valid.

Limits and Unknowns

• The bill text does not list the price of the oil.
• The total amount of oil in the sale is not stated in this document.
• Details about how long the contract lasts are only found in the attached Exhibit 1.

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