Relating to the inspection, purchase, sale, possession, storage, transportation, and disposal of petroleum products, oil and gas equipment, and oil and gas waste; creating criminal offenses and increasing the punishment for an existing criminal offense.

HB 3707 updates Texas law regarding petroleum products (defined as crude oil or condensate) and oil/gas equipment. It creates new criminal offenses for illegal activities involving these products and increases penalties for existing violations. The bill requires stolen petroleum to be sold at market price (using NYMEX benchmarks for crude oil or condensate), with proceeds handled like seized property. It also authorizes law enforcement officers to inspect cargo tanks transporting these products, after completing specific training, and collect samples for forensic analysis. These changes directly affect oil/gas industry operators, transporters, and law enforcement agencies handling petroleum-related incidents.