§ Mr. Rowlandsasked the Secretary of State for Energy whether he will list the advisers and consultants appointed by the Government and the British National Oil Corporation to prepare the privatisation of the corporation's oil equity interests; what has been paid in fees to date; what proportion has been paid by Her Majesty's Government; and what future commitments have been made in respect of, for example, success fees and underwriting.
§ Mr. GrayMy Department is being advised on the privatisation of the British National Oil Corporation's equity oil interests by S. G. Warburg & Co., Ltd. and by Freshfields. I understand from BNOC that its principal advisers on the Government's proposals for privatisation as on other matters are N. M. Rothschild & Sons Ltd. and Herbert Smith & Co., Ltd. My Department has paid no fees to date in connection with the privatisation of BNOC's equity oil interests and no commitment has been given in respect of success fees or underwriting fees. Fees paid by BNOC are a matter for the corporation.