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Offshore Oil (Marketing)

Volume 895: debated on Monday 7 July 1975

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asked the Secretary of State for Energy whether BNOC royalty oil will be marketed under bulk supply agreements negotiated between Governments or under exchange agreements with Middle East countries, including Iran.

It is too early to say what decisions will be reached on the use of the proposed discretionary power to take royalty as oil instead of cash or on how such oil might be marketed.