Creocote is the accepted replacement for domestic use. Comes in at least two shades - light or dark(er) brown. The darker shade is closer to the original creosote; the lighter isn't that dark. Perhaps get a tank and try it on the shed where it won't be seen to determine if the final colour is OK.
I've used on short stakes partially buried in the ground to hold log roll in place; and those stakes have outlasted the log role (unless sed log roll was also treated with it - regardless of whether not sed rolls had already been given some form of preservative by manufacturers).
And a large cube shaped log store made from pallets, the sides of which were was treated with one (possibly two) of creocote, is still as sound etc. as the day I built it. No sign of rot etc.. The "roof/lid" was also treated but in addition has a laid on covering of roofing felt (an end of piece I had to hand).
Just wear decent gloes of course to protect one's nail varnish... and the brushes clean easily mit tuprps.
It doesn't take too long to dry...
Price on the big river company is sometimes cheaper than elsewhere - local stores, timber yard; but often not... so wise to check about for best price.
Oil based paints will eventually require serious recoating, and possibly some flaking may occur over time as well? Creocote just soaks in and that's it; though as with any wood preservative one will usually recoat after a few years.
