HC Deb 20 December 1979 vol 976 cc294-5W
Mr. Hannam

asked the Secretary of State for Energy whether he intends to make further use of his power to require the royalties due to him under petroleum production licences to be paid in oil rather than in money.

Mr. Gray

After consulting the licensees concerned and considering their representations, I have decided to take the bulk of the royalty due to me in the second half of 1980 and subsequent chargeable periods in oil rather than in cash.

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