§ Mr. Skeetasked the Secretary of State for Energy what information he has concerning the recent decision of the Norwegian Government to bring the official price of Norwegian oil more into line with spot market prices.
§ Mr. Buchanan-SmithThere is no official price for Norwegian oil. The Norwegian Government sets a norm price at which Norwegian production is valued for tax purposes but it is set retrospectively. I understand that Statoil has been discussing with its customers the price of its oil for December and January.