Oil and Gas (Depletion Policy)

HC Deb 29 June 1979 vol 969 cc350-1W

Mr. Skeet

asked the Secretary of State for Energy whether the statement of the former Secretary of State for Energy of December 1974 represents the Government's oil and gas depletion policy or whether changes are contemplated.

Mr. Gray

In applying depletion policy to discoveries made on first to fourth round licences, the Government will be guided by the assurance given in December 1974 by the then Secretary of State for Energy.