asked the Minister for Industry, Commerce and Energy if it is proposed to carry out an investigation into the proposals of the Irish oil companies to cut back oil supplies by 10 per cent and if he will make a statement on the matter.

I am very conscious of the importance of the oil companies maintaining an adequate level of supplies, having regard to the level of demand arising from the growth in the economy, the cessation for a period of Iranian oil exports and the efforts being made by oil producers elsewhere to make good this loss. I see no reason why the shortfall against expected demand for oil products in this country should be greater than about 5 per cent across the board and I expect the oil industry to ensure this level of supply. I am keeping the matter under constant and close review.

163.

asked the Minister for Industry, Commerce and Energy if he has seen reports that oil exporting interests in Iran have drawn up a list of countries to whom they will resume the supplying of oil and if this country is on that list.

I am not aware of the reports to which the Deputy refers but I have no reason to believe that oil exports from Iran to this country will not be resumed.