§ Mr. Gordon Wilsonasked the Secretary of State for Energy if, in view of the world oil glut and consequent price reductions, he will undertake an immediate review of North Sea production.
§ Mr. GrayProduction levels from North Sea fields are kept under constant review in the light of all relevant technical and economic considerations. However, we have said that we shall honour the assurances given by the then Secretary of State, the right hon. Member for Chesterfield (Mr. Varley) on 6 December 1974, which restrict the Government's ability to reduce the rates of production. In any event, variation in North Sea production can have only a marginal impact on total world oil supply.