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Oil Companies (Assets)

Volume 932: debated on Thursday 26 May 1977

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asked the Chancellor of the Exchequer, further to his reply to the hon. Member for Guildford, Official Report, 27th April, c. 364–6, whether it is possible to publish approximate estimates of the net acquisition of assets of oil companies which give an indication of the approximate trend of their financial position quarter by quarter.

Estimates relating to the net acquisition of financial assets by oil companies are not available. Approximate estimates for the net acquisition of financial assets by the subsidiaries of oil companies directly engaged in North Sea oil and gas exploration and production are available as follows:

£ billion
1974−½
1975−1½H
1976−1½
The net acquisition of financial assets by these companies includes, as a negative component, inward investment by non-resident parent companies.