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British National Oil Corporation

Volume 973: debated on Wednesday 14 November 1979

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asked the Secretary of State for Energy, pursuant to the Minister of State's answer, Official Report, 29 October, c. 382, what is the relationship between the British National Oil Corporation Exploration and Development Company and the proposed Crown bulk purchase and selling agency.

As my right hon. Friend told the House, we intend that BNOC's trading activities, together with its access to oil through participation options, should continue as at present, but that the public should be given the opportunity to participate directly in the Corporation's oil producing business. A number of possible options for achieving this latter objective are under consideration, and we shall be making a statement in due course.