Offshore Oil Revenues (Hansard, 30 June 1999)

HC Deb 30 June 1999 vol 334 c226W 226W

§ Mr. Jack
To ask the Chancellor of the Exchequer if he will list for each of the last five financial years the amount of revenue received per barrel of oil extracted from United Kingdom offshore fields. [88790]

§ Mrs. Roche
North Sea oil tax revenues per barrel of oil produced in the same financial year, including revenues from gas production converted into equivalent amounts of oil, are in the table.

Financical year Tax¹Revenue per barrel(£)

1994–95 1.20

1995–96 1.70

1996–97 2.40

1997–98 2.20

1998–99² 1.60

¹Petroleum revenue tax, corporation tax, and royalty

²Provisional

Financical year	Tax¹Revenue per barrel(£)
1994–95	1.20
1995–96	1.70
1996–97	2.40
1997–98	2.20
1998–99²	1.60
¹Petroleum revenue tax, corporation tax, and royalty
²Provisional