Oil Companies (Government Participation Proposals)

Part of Oral Answers to Questions — Prices and Consumer Protection – in the House of Commons at 12:00 am on 2nd February 1976.

Alert me about debates like this

Photo of Mr Harold Lever Mr Harold Lever , Manchester Central 12:00 am, 2nd February 1976

The hon. Gentleman and his hon. Friends cannot have it both ways. If it is a sham, it would be harmless, although repulsive. In fact, it is not a sham and it is not harmful. What we are doing is ensuring that we have a flexible option and ownership rights over a vast amount of oil in the North Sea; that we shall have an effective voice in the operations at relevant points in the North Sea; and that we are adding to the commercial experience of the BNOC for the North Sea future. That is not a sham. The participation agreements that we are reaching will have tangible and real advantages for the British people.