HC Deb 29 June 1979 vol 969 c350W
Mr. George Gardiner

asked the Secretary of State for Energy if 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 first half of 1980 in oil rather than in cash. I also intend to hold discussions with oil companies on the possibility of taking royalty in kind in subsequent chargeable periods.