§ Mr. Dalyellasked the Chancellor of the Exchequer if he will make a statement on his discussion with the oil companies 55W about the problem of royalty rebates on marginal fields in the British sector of the North Sea.
§ Mr. GrayI have been asked to reply.
The application of the provision for royalty refunds in section 41(3) of the Petroleum and Submarine Pipe-lines Act 1975 is being examined with the oil industry as part of the wider review of marginal fields which I announced on 21 June 1979. No conclusions have yet been reached.