asked the Minister for Energy if he will make a statement on the recent agreement for oil concluded with the Saudi Arabian authorities.
Written Answers. - Oil Agreement.
226.
The contract was signed by the Irish National Petroleum Corporation with Petromin, the Saudi Arabian national oil company, and provides for the supply of 10,000 barrels per day of crude oil with deliveries commencing next October. The contract will run until 31 December 1982 and also deals with such matters as specifications for the oil, shipping and lifting arrangements, all of which are satisfactory from the point of view of the INPC and of the national economy.
I have already publicly expressed the Government's appreciation of the Saudi Arabian authorities' decision to conclude this agreement with us. I regard the contract as an important step in the development of a national policy on oil supplies and as an appropriate role for the INPC in this regard.