HC Deb 21 March 1979 vol 964 c644W
Mr. Skeet

asked the Secretary of State for Energy whether the British National Oil Corporation is disposing of crude oil in the United Kingdom at OPEC-related prices or at higher levels related to spot prices.

Dr. Mabon

The British National Oil Corporation trades in crude oil at prices in line with international market levels, whether participation or other crudes are involved. At present the corporation is buying and selling all its crude under term arrangements at prices which are substantially below prices obtainable on the spot market. I have no intention of directing the corporation to change this policy.