HC Deb 04 June 1965 vol 713 cc301-2W
Mr. Wallace

asked the Chancellor of the Exchequer what were the terms of the original agreement made between Her Majesty's Government and the Anglo-Persian Oil Company, now British Petroleum Company Limited; what changes have since been made in the terms of such agreement; and whether the changes were made by formal agreement or by an exchange of letters.

Mr. Callaghan

The terms of the original agreement dated 20th May, 1914, were published in Cmnd. 7419 of that year. No changes have since been made.

Mr. Wallace

asked the Chancellor of the Exchequer if he will publish the names of the Government-appointed directors of British Petroleum Company Limited; how long they have served as directors; and what remuneration they receive.

Mr. Callaghan

The present Government-appointed directors are Mr. F. E. Harmer, C.M.G., and Lord Robbins, C.B. They have served as directors since 8th May, 1953 and 1st January, 1961, respectively. They are remunerated by fees from the company on the same basis as other directors.

Mr. Wallace

asked the Chancellor of the Exchequer on what occasions since the conclusion of the Agreement with the Anglo-Persian Oil Company, now British Petroleum Company Limited, Her Majesty's Government have interfered in the affairs of the company for strategic or other reasons.

Mr. Callaghan

While Her Majesty's Government have at all times had very close contacts with the company, they have never interfered formally in its affairs.

Mr. Wallace

asked the Chancellor of the Exchequer whether the Government-appointed directors on the Board of the British Petroleum Company Limited are entitled to participate fully in the commercial management and control of the company.

Mr. Callaghan

Yes.