§ Mr. Meacherasked the Secretary of State for Energy what sums have been borrowed against future oil revenues each year since 1970; and what sums are expected to be borrowed against these revenues each year to 1985.
§ Mr. GraySeveral private sector oil companies have financed the development of North Sea fields by borrowing against future oil revenue. Information about such borrowings is usually available in the company's annual accounts.
Within the public sector, the British National Oil Corporation raised $825 million under a forward oil purchase agreement with Britoil Inc in 1977.