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Offshore Oil (Licensing System)

Volume 929: debated on Wednesday 6 April 1977

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asked the Secretary of State for Energy whether the Government concept of a minimum selling price for oil involves a system of import licensing similar to that recommended by the Government to the European Commission over a minimum reference price for steel.

Her Majesty's Government consider that a minimum safeguard price for oil in the EEC should be maintained by means of an external levy. If this system were adopted, it would be unlikely to involve an import licensing system.