§ Mr. Skeetasked the Secretary of State for Energy if he will list in tabular form current posted prices for the principal Middle East, Indonesian, Libyan, Nigerian and Venezuelan crudes, royalty rates and buy-back prices where announced by overseas Governments.
§ Mr. StrangCurrent posted prices for the crudes mentioned are as follows:
Crude Gravity $ per barrel Arab light … 34 11.651 Arab Berri … 39 12.351 Arab medium … 31 11.561 Arab heavy … 27 11.441 Iran light … 34 11.875 Iran heavy … 31 11.635 Kuwait … 31 11.545 Abu Dhabi: Umm Shait … 37 12.086 Murban … 39 12.636 Zakum … 40 12.566 Iraq Hasrah … 35 11.672 Qutar Marine … 36 12.013 Qutar Dukhan … 40 12.414 Oman … 34 12.298 Libyan … 40 15.768 Nigerian … 34 14.691 Indonesia Sumatra light … 34 11.700 (Official Selling Price) Venezueta Tia Juana … 26 13.776 Tia Juana … 31 14.356 Oficina … 35 14.876 Royalties are usually 12½ per cent. of posted prices, but the Venezuelan figure is 16⅔ per cent. In most cases the rate will be 14½per cent. from 1st July. Buyback prices are not generally announced.