§ 47. Mr. Nabarroasked the Minister of Power what part of United Kingdom oil supplies, and to what value, derived from Kuwait in the last twelve months; and what alternative sterling supplies of oil are available in view of the possibility of interruptions in the flow of oil from Kuwait to the United Kingdom.
§ Mr. WoodIn the twelve months ended 31st May, 1961, about 24 million tons of crude oil and products were imported direct from Kuwait. The value of these imports was about £167 million. They represented 39 per cent. by volume of oil imports into the United Kingdom during the same period. Some additional quantities of Kuwait oil, which cannot be identified, reached the United Kingdom after refining in other overseas countries, and some of the products obtained from Kuwait oil were exported. As regards the second part of the Question, I do not expect any interruption in the flow of oil from Kuwait. There are, however, many alternative sources from which we could if necessary obtain additional supplies. The cost of these, like the cost of Kuwait oil, would be met partly in sterling and partly in other currencies.