The oil companies havr NOT “lost faith” in their North Sea oil fields!
They have been PERSECUTED and BETRAYED by their governments (UK, EU, Canada, and - most importantly - Obola’s US dictatorship) and can no longer make money drilling out there while oil prices are deliberately driven artificially low by Obola’s Saudi and its allies to KILL the European and US oil companies with artificially low prices.
The pols want the peons to conserve. Now they have their wish!