Naval Petroleum Reserves Production Act of 1976

Naval Petroleum Reserves Production Act - =Title I: National Petroleum Reserve in Alaska= - Defines the term petroleum to include crude oil, gases (including natural gas), natural gasoline, and other related hydrocarbons, oil shale, and the products of such sources.

Transfers Naval Petroleum Reserve Numbered 4 in Alaska to the administrative jurisdiction of the Secretary of the Interior from the Secretary of the Navy. Redesignates such area as the National Petroleum Reserve in Alaska.

Withdraws such reserve from all forms of entry and disposition under the public land laws.

Prohibits production of petroleum from the reserve and any development leading to production of petroleum from the reserve until authorized by an Act of Congress.

Requires that exploration activities be conducted in a manner which will minimize the adverse impact on the environment.

Directs that the study authorized by the Energy Policy and Conservation Act be completed and transmitted to the House and Senate Committees on Interior and Insular Affairs. Requires the President to make a detailed study of the petroleum resources in the reserve to determine the best procedures for the development, production, transportation and distribution of such petroleum resources.

Establishes a task force to conduct a study to determine the values of, and best uses for, the lands within the reserve.

Authorizes to be appropriated such sums as are necessary to carry out the provisions of this Act.

=Title II: Naval Petroleum Reserves= - Directs the Secretary of the Navy to produce the petroleum in Naval Petroleum Reserves 1, 2 and 3. Authorizes the Secretary either to produce such petroleum or to have it produced under a contractual arrangement. Authorizes the Secretary to construct, acquire, or contract for the use of any necessary storage or shipping facilities.

Authorizes the Secretary in connection with the petroleum produced at the reserves to use, store, or sell such petroleum. Requires all sales of petroleum by the Secretary be made at public sale to the highest qualified bidder after appropriate public notice. Limits such sales contracts to periods of one year or less. Prohibits the acquisition of more than 20 percent of the Federal share of production of petroleum from Elk Hills by a single purchaser. Requires the structuring of bids to allow all potential qualified purchasers to bid on the Federal petroleum to be sold. Requires the approval of the Attorney General prior to the execution of any such sale contract.

Requires any pipeline which accepts, conveys, or transports any petroleum produced from Naval Petroleum Reserves Numbered 1 or 3 to accept, convey, and transport without discrimination and at reasonable rates any such petroleum as a common carrier.

Permits petroleum from the naval petroleum reserves to be exported if in compliance with the Export Administration Act and if the President determines that such export will not adversely affect the United States.

Establishes a special account in the Treasury into which all proceeds from the disposition of petroleum from the naval petroleum reserves will be deposited.