§ 22. Mr. Wainwrightasked the Secretary of State for Energy what has been the value of United Kingdom oil production for each of the first four months of 1986.
§ Mr. Peter WalkerThis information is available only on a quarterly basis. The provisional figure for the first quarter of 1986 is £3.6 billion.
§ 41. Mr. Easthamasked the Secretary of State for Energy if the fall in oil prices has affected production in the North sea.
§ Mr. Buchanan-SmithThe fall in oil prices has not had any measurable effect on oil production in the North sea. Even at today's level the price is still substantially above the ongoing costs incurred in producing oil from existing fields. The latest forecast of oil production was given in the Secretary of State's recent report to Parliament on the development of the oil and gas resources of the United Kingdom 1986, published on 29 April.
§ 47. Mr. Kennedyasked the Secretary of State for Energy if he will make a statement on the effects of lower oil prices on North sea oil production.
§ Mr. Buchanan-SmithI refer the hon. Member to the reply I have today given to the hon. Member for Manchester, Blackley (Mr. Eastham).