Oil Supplies

Part of the debate – in the House of Commons at 12:00 am on 11th June 1979.

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Photo of Mr Peter Hordern Mr Peter Hordern , Horsham and Crawley 12:00 am, 11th June 1979

One of my right hon. Friend's interesting proposals was that a proportion of the royalties should be taken in the form of product rather than cash. Bearing in mind that BNOC exports half its production, will my right hon. Friend say whether there is sufficient refining capacity if these interesting proposals are carried out? If so, is there any reason why he should not get on with this straight away?