Bill > SB176

This bill approves and ratifies a royalty oil sale contract between the State of Alaska and Marathon Petroleum Supply and Trading Company LLC, specifically authorizing the sale of Alaska North Slope royalty oil under the terms outlined in a "Final Best Interest Finding and Determination" document dated April 14, 2025. The legislation references Alaska Statute 38.06.055, which governs the sale of state-owned royalty oil, and provides legislative approval for the specific agreement between the state, Marathon Petroleum Supply and Trading Company (a Delaware Limited Liability Company), and Marathon Petroleum Corporation (a Delaware Corporation). The bill will take effect immediately upon passage, as specified under Alaska Statute 01.10.070(c), which allows certain legislation to become effective instantly without waiting for the standard 90-day period after the end of the legislative session.

Agriculture and Natural Resources, Budget and Finance

Rules (S)

https://www.akleg.gov/basis/Bill/Detail/34?Root=SB176