HC Deb 22 November 1979 vol 974 c324W
Mr. Skeet

asked the Secretary of State for Energy if he will renegotiate participation agreement to allow companies short of crude oil through the recent operations of the Oil Producing and Exporting Countries to make greater use of their own supplies from the continental shelf and thus avoid them having to pay world prices through the repurchase of supplies from the British National Oil Corporation.

Mr. Gray

No. BNOC both buys and sells participation oil at term market related prices.