HC Deb 26 July 1985 vol 83 cc861-2W
Mr. Austin Mitchell

asked the Chancellor of the Exchequer what is the average amount of petroleum revenue and other taxes on a barrel of North sea oil as a

£ million cash
1978–79 1979–80 1980–81 1981–82 1982–83 1983–84 1984–85 1985–86 1986–87 1987–88
Cmnd.7439* 2,155 3,183
Cmnd.7841* 2,688 2,011 1,068 326 -682

percentage of the total price at present in the case of a field on which development and depreciation charges have already been exhausted.

Mr. Moore

The average amount of tax and royalties as a percentage of the gross value of North sea oil depends on factors such as the level of operating costs and the amount of production in each chargeable period. The marginal tax and royalty rate for a barrel of oil produced this year from a mature oil field which is paying full rates of tax, assuming no change in operating costs, is 87 per cent.