My TL;DR:

Ministers have repeatedly claimed developing the huge oilfield off Shetland will improve UK energy security.

For example, in September, Rishi Sunak said Rosebank would help prevent young people from growing up “dependent on foreign dictators” for energy security.

Furthermore, in the king’s speech: “Legislation will be introduced to strengthen the United Kingdom’s energy security and reduce reliance on volatile international energy markets and hostile foreign regimes".

However, in a written answer to a parliamentary question, the government admits that the private companies extracting the oil will sell the vast majority internationally: “Around 80% of the oil produced in the UK is refined overseas into the products demanded by the UK market".

Alexander Kirk, of the climate justice group Global Witness, says “UK oil and gas is owned by the companies that extract it and sell it on global markets. New oilfields like Rosebank will only line the pockets of rich fossil fuel firms, it won’t help the millions of Brits that are struggling to pay their bills.”

Edit: Making title more clear.