U.K. oil cutback?
The British Government is thinking of cutting North Sea oil output, according to the “Sunday Telegraph”. The aim was to reduce annual output to a level “close to the country’s consumption” tt extend British oil seif-suffi ciency, the paper says. T cites a draft said to be unde* consideration at the Energy Ministry and ready nex year. The proposed measure? would give the country fiv» more years of oil independ ence. Estimates this year art that North Sea oil will brinjt in up to about $11.95 billion A cut. in such income would seriously jeopardise the economic strategy of the British Government, according to financial analysts — London.
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Press, 29 May 1981, Page 8
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110U.K. oil cutback? Press, 29 May 1981, Page 8
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