The sharing of petroleum resources; resource poverty and richness around the North European Seas with special reference to the Norwegian position

Abstract

The article compares the national energy policies of the countries around the North Sea and the recent development in energy consumption and production. In Northern Europe only Norway has a large energy surplus for export, and it continues to stand outside the EU after its second “No” to membership in the 1994-referendum. Will this mean reduced production to conserve the resources? Are energy policies in the countries around the North Sea determined by the longterm national interests? The conclusion is made that in the initial phases the offshore petroleum developments were, to a larger extent, determined by strictly national interests and policies rather than by the international market and the interests of the companies. At present, however, by the shear weight in the national economies, the companies and the market forces have obtained the leading role.