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British National Oil Corporation

Volume 972: debated on Monday 29 October 1979

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asked the Secretary of State for Energy what proposals he has for modifying the dual role of the British National Oil Corporation.

As my right hon. Friend previously announced to the House, the Government have decided that the Corporation's statutory role as adviser to the Government should be ended. As to the Corporation's commercial activities, the trading activity is to continue, with the Corporation's access to oil through participation options retained. We intend also that the British public should be given the chance to participate directly in BNOC's oil producing business. A statement will be made in due course.