HC Deb 04 December 1972 vol 847 cc891-2
12. Mr. Thomas Cox

asked the Secretary of State for Trade and Industry what recent discussions he has had with the oil companies operating in this country.

Mr. Peter Walker

Both I and my colleagues maintain close contacts with oil companies.

Mr. Cox

I thank the Minister for that reply, but is he not aware that many people now believe that oil companies which are operating in the North Sea are starting to make very large profits at the expense of the British consumer who has to pay for the product? Therefore, when the right hon. Gentleman next meets oil company representatives, will he call upon them to open their financial accounts for independent inspection so that the British people can start to see just what are the financial returns of these oil companies?

Mr. Walker

I shall certainly consider the hon. Gentleman's suggestion on that point. It is my objective, with all sorts of oil companies, to see that overall, nationally, we receive the fullest benefit possible from North Sea oil and gas.

Mr. Millan

When the Minister meets the oil companies, will he get them to give details of prospective orders for equipment, instead of details of what they have ordered in the past, so that we can get more opportunities for British firms to compete for them?

Mr. Walker

Certainly I intend to do everything possible to see that British firms benefit to the maximum from these very important developments which are taking place as a result of the finds in the North Sea.