§ Mr. Skeetasked the Secretary of State for Energy, pursuant to his answer, Official Report, 20 December 1979, c. 295, what is his estimate of the royalty oil available to him in the second half of 1980 and on an annual basis thereafter.
§ Mr. GrayThe amount of royalty oil available is expected to be a little under 12½ per cent. of total production from United Kingdom continental shelf oil-fields in the periods concerned.
§ Mr. Meacherasked the Secretary of State for Energy what has been the estimated total value, respectively, of North 132W and what are the figures for the preceding five years.
§ Mr. GrayThe marketable output of petroleum products from United Kingdom refineries is expressed as a percentage of the EEC consumption of petroleum products for each of the years 1974 to 1978 and for the latest available period in 1979.
Percentage 74 75 76 77 78 79 January-June 21.2 18.3 17.8 17.5 17.5 16.8 Source: OECD quarterly oil statistics
§ Mr. Skeetasked the Secretary of State for Energy, of the total volume of refined products for the last year for which figures are available, what tonnage and percentage were moved by road, coastal shipping, pipeline and rail.
§ Mr. GrayThe inquiry for collecting data on the transport of refined petroleum products has been discontinued. The latest year for which figures are available is 1976.
Sea oil and gas reserves at current prices each year since 1965 and at constant 1980 prices; and what percentage these figures represent of the gross national product.
§ Mr. Gray[pursuant to his reply, 18 January 1980]: Comparable estimates of total recoverable reserves of oil and gas on the United Kingdom continental shelf are not available annually from 1965, and reserve estimates are subject to a wide margin of error. However, in 1978 reserves of oil were valued at around £200,000 million at current prices, equivalent to about 140 per cent. of 1978 GNP. At average 1979 prices these oil reserves would be worth around £250,000 million or about 160 per cent. of the 133W latest GNP estimate—1979 third quarter rate. At January 1980 prices oil reserves would be worth around £350,000 million or about 220 per cent. of the latest GNP estimate.
The value of gas reserves at oil-equivalent prices is estimated to be approximately half that of oil reserves.