Oil advisers’ shareholdings and conflicts of interest
The Minister named Dr. David Whitbread and Richard Duffy as oil advisers, stating that Duffy had no relevant company interests and Whitbread’s shareholdings were too small to create a conflict. Pressed by Horgan for details, the Minister said Whitbread had severed directorships and clarified that the 1 per cent holding was in one part of a group, not in the multinational as a whole.
asked the Minister for Energy if he will name the persons, other than whole-time civil servants, acting as advisers to himself and his Department on oil matters; and whether he is aware of any such persons having, in their private capacity, an interest in any company engaged in oil exploration, development, refining, sale or distribution.
Comment on this
There are two such oil advisers, namely, Dr. David Whitbread, petroleum adviser, and Mr. Richard Duffy, petroleum engineer. Mr. Duffy has no interest in any such company. I am aware that Dr. Whitbread holds a relatively small number of shares in some such companies. However, I am fully satisfied that these shareholdings do not present Dr. Whitbread with a conflict of interest in the performance of his functions as petroleum adviser.
Comment on this
Can the Minister say why this conflict of interest does not arise? Would he not accept that, with the best will in the world for the integrity of the person concerned, there is a kind of prima facie conflict of interest involved here?
Comment on this
The size of the shareholding involved was declared by Dr. Whitbread when he was appointed in June 1980. It is so minimal that it would in no way represent a conflict of interest.
Comment on this
Could the Minister tell us what the size of the holding is? If it is so minimal, why is it important for him to hold on to it?
Comment on this
Dr. Whitbread has been concerned that such an accusation of conflict of interests could have been made and he has since severed the directorships he held, minimal though they were.
Comment on this
I understand that there was a shareholding of 1 per cent in one part of a group, that was 1 per cent in an overall multinational company.
Comment on this
Would the Minister not accept that 1 per cent of any multinational would be very welcome to some people?