§ Mr. Skeetasked the Secretary of State for Energy what is the present price differential between (a) middle east and African and North sea crudes and (b) North sea and Nigerian crudes; and if he will give a specific directive requiring the alignment of the United Kingdom reference price to reflect the quality differences between North sea and Nigerian crudes.
§ Mr. GrayThere is no single differential between middle east, African and North sea oil nor between North sea and Nigerian oil. Each country produces several crudes of different quality. The appropriate theoretical differentials vary according to the market into which the oils are sold. United Kingdom continental shelf crude oil prices are a matter for the oil companies as well as BNOC; I have no intention of giving BNOC a specific direction on prices.