§ Mr. Pawseyasked the Secretary of State for Energy what percentage of the United Kingdom's annual oil requirement is provided by British National Oil Corporation holdings in the North Sea; and from what sources the balance is obtained.
§ Mr. GrayI understand that the total amount of oil sold by BNOC to United Kingdom oil companies in 1979 was about 25 per cent. of the United Kingdom's oil110W demand in the year. However, only a small part of the oil disposed of by the Corporation derived from its equity interests in North Sea fields, the balance coming from participation agreements with other licensees, royalty oil sold by the Corporation as agent for the Government and purchases from third parties. United Kingdom oil companies made their own arrangements for obtaining the balance of their United Kingdom needs.