Participation Agreements

HC Deb 07 March 1983 vol 38 cc273-4W

Mr. Skeet

asked the Secretary of State for Energy whether he proposes to renegotiate the terms and conditions of participation agreements negotiated by his Department, the British National Oil Corporation and the oil companies operating in the North Sea.

	Four-star petrol	Percentage change from previous June
	Estimated typical pump price	of which tax	Four star petrol pump price	General index of retail price (all items)
Mid-June	Pence/gallon
1973	35.7	22.5	+4.4	+9.4
1974	55.0	27.5	+54.1	+16.5
1975	72.5	37.0	+31.8	+26.1
1976	76.5	38.5	+5.5	+13.8
1977	85.3	44.5	+11.5	+17.7
1978	75.7	38.4	-11.3	+7.4
1979	108.6	48.9	+43.5	+11.4
1980	135.1	63.1	+24.4	+21.0
1981	153.1	82.8	+13.3	+11.3
1982	169.5	92.8	+10.7	+9.2

Mr. Gray

I have no current plans to initiate renegotiations to the agreements.