§ Mrs. McCurleyasked the Secretary of State for Energy whether he has yet completed his review of the British National Oil Corporation; and if he will make a statement.
§ Mr. Wallaceasked the Secretary of State for Energy if he will make a statement on the future operations of the British National Oil Corporation.
§ Mr. Peter WalkerFollowing my predecessor's statements to the Select Committee on Energy in April of last year, I have reviewed the institutional arrangements of BNOC and the way in which it conducts its operations. I have concluded that the corporation has made an effective contribution to ensuring that the nation derives full benefit from the exploitation of oil from the United Kingdom continental shelf. I wish to maintain that contribution. I am therefore continuing the objectives set for the corporation in 1982.