Skip to main content

Oil Companies' Profits

Volume 884: debated on Wednesday 22 January 1975

The text on this page has been created from Hansard archive content, it may contain typographical errors.

asked the Secretary of State for Energy how Her Majesty's Government's policy of preventing majority shareholding by companies in North Sea oil from affecting their profits, as recently stated by him, is to be implemented.

The terms under which the Government acquire majority participation in commercial oilfields are a matter for negotiation with the companies.