§ Mr. Woodall
asked the Secretary of State for Energy (1) whether, in view of the increasing importance of inward investment by overseas oil companies, he will consider publishing a breakdown by area and country for both the net investment and the net earnings of overseas oil companies similar to that produced by the Department of Industry for other commercial and industrial companies in Business Monitor M4;
(2) what is his estimate of the total book value of inward direct investment by overseas oil companies, of the inward direct investment of these companies in each of the last three years, and of the net earnings of these companies in the same 340W period, in each case broken down by area and country.
§ Dr. J. Dickson Mabon
The value of inward direct investment by overseas oil companies in each of the last three years is estimated to have been as follows:
£ million 1974 1975 1976 North America 600 550 550 Western Europe 325 400 400 Total 925 950 950
Net earnings* by overseas oil companies in the same period was as follows:
1974 1975 1976 North America +40 −5 −15 Western Europe +5 +15 −5 Total +45 +10 −20 * +profit/−loss.
The book values of total inward direct investment are published in the "Pink Book" which details the United Kingdom balance of payments. A copy of this is available in the Library of the House. My Department will carefully consider, in consultation with our colleagues in the Department of Industry, the Central Statistical Office and the Bank of England whether further information can be made available as a matter of routine.