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1982 Jan 14 - 1985 Nov 12
Prime Ministerial Private Office files

PREM19/1474
Energy (Future of British National Oil Corporation (BNOC): flotation of Britoil, BNOC oil-producing business) (Part 5)

Source: TNA, PREM19 series
Release date: 2014 Dec 30
Classification: Secret
Page count: 282
Any docs withheld? 5

PREM19/1474 - download whole file (PDF, 48.34 MB)

Selections from this file

Showing items 1 - 20 of 44

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Date Value Title
82 Jan 15 Fr Major Energy: Michael Havers letter to Lawson (BNOC's access to Britoil's oil) [concerned by late notice, given the probable legal complexities] [declassified Dec 2014]
82 Jul 20 Tu Major Energy: Michael Scholar minute to MT (objectives for BNOC after the privatisation of Britoil) [degree of Treasury influence on BNOC with regard to setting of term prices for UKCS crude] [declassified Dec 2014]
82 Aug 11 We Major Energy: Chancellor of the Exchequer letter to Lawson ("BNOC Trading After the Separation of Britoil") [limits on financial exposure] [declassified Dec 2014]
82 Sep 24 Fr Major Energy: Lawson letter to Chancellor of the Exchequer ("North Sea Oil Tax Climate") ["I am less confident than you that... major changes are neither necessary nor desirable... there is a strong case for early changes to reduce the level of taxation"] [declassified Dec 2014]
82 Sep 29 We Major Energy: Treasury record of conversation (Howe, Lawson, Ridley, Peter Middleton) [Britoil flotation; North Sea fiscal regime] [declassified Dec 2014]
82 Oct 1 Fr Major Energy: Michael Scholar minute to MT ("Sale of Britoil Shares") [method of sale; MT requests to be consulted before final decision] [declassified Dec 2014]
82 Oct 14 Th Major Energy: Lawson letter to Biffen ("Britoil Flotation") [guidance on legal risk of Ministerial statements relevant to shares sale] [declassified Dec 2014]
82 Oct 27 We Major Energy: Alan Walters minute to Michael Scholar ("Britoil") ["method of floating... there is a proposal, apparently to be agreed between Energy and the Chancellor, for a rather peculiar loyalty scrip which might pre-empt... [MT's] decision"] [declassified Dec 2014]
82 Oct 27 We Major Energy: Willie Rickett minute to MT ("Statements: 27 October 1982") [Foreign Affairs Council; Fisheries Council; Britoil] [declassified Dec 2014]
82 Nov 2 Tu Major Energy: No.10 record of conversation ("Britoil: Loyalty Scrip") [Alan Walters, Lawson] [declassified Dec 2014]
82 Nov 4 Th Major Energy: Treasury record of conversation ("Pricing of the Britoil Issue") [Ridley, Lawson, David Scholey, Lord Garmoyle] [declassified Dec 2014]
82 Nov 5 Fr Major Energy: Lawson letter to MT ("Britoil Flotation") [method of sale] [declassified Dec 2014]
82 Nov 16 Tu Major Energy: Lawson letter to Biffen ("Britoil Offer for Sale") [legal risks of Ministerial statements relevant to shares sale] [declassified Dec 2014]
82 Nov 22 Mo Major Energy: No.10 minute to MT ("PNQ and Statements") [French sale of Exocets to Argentina/UK sale of Rolls-Royce engines to FRG; steel industry closures; sale of Britoil shares] [declassified Dec 2014]
82 Nov 22 Mo Major Energy: Chancellor of the Exchequer letter to Lawson ("BNOC Trading After the Separation of Britoil") [limiting risks; starting capital] [declassified Dec 2014]
82 Nov 24 We Major Energy: MT letter to Senior Partner of Rowe and Pitman (Britoil Flotation and further privatisation) ["We shall certainly not be dissuaded by the Britoil experience"] [declassified Dec 2014]
82 Nov 24 We Major Energy: Central Policy Review Staff letter to Lawson ("BNOC Trading after the separation of Britoil") [objectives and criteria] [declassified Dec 2014]
83 Jun 28 Tu Major Energy: Howe minute to Peter Walker ("BNOC Third Quarter Prices") ["a welcome sign of further stabilisation in the oil market"] [declassified Dec 2014]
83 Jul 5 Tu Major Energy: Chancellor of the Exchequer minute to MT ("Funding: Sale of BP Shares") ["to make an early start on the programme of disposals, and to assist in containing the PSBR"] [declassified Dec 2014]
83 Sep 22 Th Major Energy: Howe minute to Peter Walker ("BNOC: Fourth Quarter Prices") [endorses no change to prices and contacting suppliers "to reduce the risk of upsetting the market"] [declassified Dec 2014]