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Oil And Gas (Government Revenue)

Volume 929: debated on Wednesday 6 April 1977

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asked the Chancellor of the Exchequer what is his latest estimate of Government revenues from North Sea oil and gas for each year from the present until the middle of the 1980s.

The Government revenue from North Sea oil and gas depends on a number of factors which cannot be precisely estimated for particular future years. These include changes in the price of oil, the exchange rate, costs and the production programme.