asked the Minister for Industry and Energy if he will make a statement on the future role of the Irish National Petroleum Corporation; and when legislation will be brought before the Houses of the Oireachtas to give a statutory basis to the corporation.

19.

asked the Minister for Industry and Energy if the Irish National Petroleum Corporation will hold the shares in the Whitegate Oil Refinery on behalf of the Government; if he will make a statement on the role of the corporation with specific reference to the management of the refinery; and if he will make a statement on the matter.

20.

asked the Minister for Industry and Energy if he will make a statement on the Government's policy on the financing, operation and public accountability of the Whitegate Oil Refinery.

With the permission of the Ceann Comhairle, I propose to take Questions Nos. 18, 19 and 20 together.

The Irish National Petroleum Corporation will hold the entire share capital of the Irish Refining Company on behalf of the Government and will, through the latter company, and in consultation with me, make the necessary arrangements to ensure that the refinery continues to be operated effectively. It is expected that the refinery can resume operations in August.

As already announced, it is intended that operation of the Whitegate Refinery will be on a cost-recovery basis.

A sum of upwards of £10 million is being earmarked to get the refinery back into operation and the Deputy will have noted from the Minister for Finance's Budget Statement that provision has been made for this amount in the current year.

I intend, in the near future, to introduce legislation to provide a statutory basis for the capital structure, organisation and functions of the INPC. This legislation will also provide for the preparation and presentation of an annual report and accounts and any other matters relevant to public accountability. It is my intention, when presenting this legislation to the House, to make a full statement in regard to the Government's policy on the corporation, including in particular, its future role and functions.

Is the Minister aware that the decision to buy this refinery was a difficult one and was taken by the former Government only after consideration of certain proposals? Is he aware that unless the refinery is managed most efficiently and that the role it plays in the Irish economy is handled with care there could be a heavy cost to the taxpayers? Will he ensure when introducing legislation that the concept of the management of the refinery will be one of public accountability and that we in this House will at all times be able to get the fullest information necessary to ensure that the refinery is run efficiently and that the policy being pursued by the Government in office can be open to full scrutiny in this House?

I share the Deputy's opinion when he said that the decision was a difficult one. I know it was the correct one. I also share his opinion when he said it will be essential that the management of the refinery be efficiently conducted. I think the legislation that will be presented to the House and the presentation of the annual report and accounts will permit the House to take a close look every year at the management, running and success of the refinery. In that way I think public accountability will be well looked after.