§ Mr. Skeetasked the Secretary of State for Energy, on the basis of current prices, if he will compare the prices obtained for a given quantity of North Sea crude oil exported and the market value of petroleum products obtained from a similar quantity of crude.
§ Dr. MabonThe prices obtained from exports of North Sea crude oils, and the realisations gained from refining crude oils and selling their preducts, vary widely, depending upon the particular crudes and markets concerned and also the refining configurations and locations involved. Generalised comparisons between crude prices and product realisations are, therefore, difficult. An estimate published recently relates to a typical refiner in the Rotterdam market area refining "an extra barrel" of a representative light, low-sulphur North Sea crude during March. This estimate indicates that the export price of the crude would exceed the value of the products yield, less the cost of the raw materials used in the refining process, by some 5 to 20 cents per barrel.