British Gas Corporation (North Sea Oil Assets)

HC Deb 07 August 1980 vol 990 cc264-5W

Mr. Skeet

asked the Secretary of State for Energy whether he proposes to recommend the sale of North Sea oil assets of the British Gas Corporation to the British National Oil Company at market price or, following the precedent established in section 13 of the Petroleum and Submarine Pipe-Lines Act 1975 in the case of the National Coal Board's North Sea assets, to the market in order further to reduce the public sector borrowing requirement.

Mr. Gray

I have no immediate plans to do so.

Mr. Skeet

asked the Secretary of State for Energy whether there is anything in current agreements made by or with the British Gas Corporation that would preclude the sale of British Gas Corporation's North Sea oil assets to third parties.

Mr. Gray

That is a matter for the corporation. I have asked the chairman to write to the hon. Member.