HC Deb 08 April 1971 vol 815 c283W
Mr. Deakins

asked the Chancellor of the Exchequer what is the annual cost of the balance of payments of the higher oil prices recently agreed between the oil companies and Libya.

Mr. Higgins

It is estimated that the additional cost of oil imports from Libya, assuming no change in present quantities, will be about £50 million in a full year.