§ Mr. Donald Stewartasked the Secretary of State for Trade and Industry (1) what estimate he has made of the likely proportion producer country1 revenues will form of the landed value of oil imported into the United Kingdom in 1976 and 1980, respectively, having due regard to the terms of the recent participation agreement negotiated by the Organisation of the Petroleum Exporting Countries;
(2) what estimate he has made, at current prices, of the landed cost per ton of oil imported from members of the Organisation of the Petroleum Exporting Countries in 1976 and 1980, respectively, having due regard to the terms of the recent participation agreement.
§ Mr. EmeryThe details of the participation agreements have not yet been worked out, and the Tehran and Tripoli price agreements expire at the end of 1975. No worthwhile estimates can therefore be made of the price of oil or the revenues of producing countries in 1976 and 1980.
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