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North Sea Oil (Participation Agreements)

Volume 977: debated on Thursday 24 January 1980

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asked the Secretary of State for Energy if he will modify participation agreements to enable North Sea producers to use their own oil to meet their commercial commitments rather than being forced on to the spot market for additional supplies.

As I have already announced—[Vol. 971, c. 891]—the Government have decided that BNOC's access to oil through participation options should be retained. I do not have it in mind to modify the relevant agreements, many of which contain saleback provisions.