§ Q119. Mr. Kennedyasked the Prime Minister what is her assessment of the effect of lower oil prices on an onshore oil-related industry; and if she will make a statement.
§ The Prime MinisterAlthough some short-term reduction in the volume of business available to the onshore based oil-related industry supplying goods and services to the offshore industry is likely to result from lower oil prices, the Department of Energy has approved 10 new projects so far this year which will provide substantial opportunities for the offshore supplies industry. Current expenditure on supplying, maintaining and operating existing oil and gas fields is running at over £6 million per day and a continued high level of activity is expected.