New life could be breathed into the North Sea oil fields as governments look to their own backyards to ensure energy security in the wake of Russia’s invasion of Ukraine.
Europe’s plans for a total embargo on imports of Russian oil mean the continent’s refiners are now looking for replacement barrels in a development that will have consequences for the tanker market.
The International Energy Agency (IEA) estimates that the combined UK and Norwegian production was 2.93m
