HL Deb 28 July 1977 vol 386 cc1202-3WA
Baroness VICKERS

asked Her Majesty's Government:

What action is being taken to provide storage for oil when there is a surplus from the North Sea oilfields in order to provide a reserve should there be a dispute with other suppliers in the future.

Lord STRABOLGI

EEC Council Directives 68/414 and 72/425, which have been implemented by issuing directions under Section 6 of the Energy Act 1976, already require the United Kingdom to maintain petroleum stocks equivalent to 90 days' inland consumption of petroleum for energy purposes. Fulfilment of this requirement also meets the United Kingdom's lesser obligation as a member of the International Energy Agency to maintain reserve oil stocks at a level equivalent to 70 days' of net imports.

In view of this and the direct access we shall have to United Kingdom Continental Shelf oil, there should be no need to make special arrangements when United Kingdom Continental Shelf production exceeds total United Kingdom consumption.