Paul Kehoe
Ceist:202 Deputy Paul Kehoe asked the Minister for Finance if he will confirm when a charge commenced and ceased; the amount raised under this charge; and if he will make a statement on the matter. [3724/11]
Amharc ar fhreagraTuesday, 25 January 2011
Ceisteanna (95)
Freagraí scríofa
I understand that the Deputy is referring to royalty payments for petroleum production. These payments were provided for in the Petroleum and Other Minerals Development Act, 1960 and were abolished in 1987 for new petroleum leases. Royalties continue to be paid in respect of the Kinsale lease, which was signed in 1959. Royalties are paid into the Exchequer as an Exchequer Extra Receipt and are accounted for in Statement 1.2 of the annual Finance accounts. The amount received in royalties to date from the Kinsale, Ballycotton and South West Kinsale Gas fields, is €187,880,642.