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North Sea Oil (Price)

Volume 22: debated on Monday 19 April 1982

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asked the Prime Minister whether Her Majesty's Government considered the implications of the recent reduction in the price of North Sea oil before the British National Oil Corporation decided to reduce the level of oil prices; and to what extent account was taken of the likely effect on United Kingdom exports to the oil-producing countries.

BNOC negotiates its prices with some 50 companies in the light of market conditions. The Government do not control prices.