British National Oil Corporation

HC Deb 29 March 1982 vol 21 cc23-4W

Mr. Skinner

asked the Secretary of State for Energy how much money has already been paid to the merchant bank of N. M. Rothschild for advice on the forthcoming sale of the British National Oil Corporation's oil and gas assets.

Mr. Gray

This is a matter for the British National Oil Corporation, which N. M. Rothschild and Sons is advising. I understand that the corporation has so far paid no fees to Rothschilds for advice on the forthcoming sale of shares in Britoil.

Mr. Skinner

asked the Secretary of State for Energy if he will provide an estimate of the amount of money to be paid to merchant banks for advice regarding the forthcoming sale of the British National Oil Corporation's oil and gas assets.

Mr. Gray

The British National Oil Corporation's costs are a matter for the corporation. It is too soon to estimate my Department's expenses.