Business · 31 July 2026
BP selling North Sea oil and gas business after 60 years
BP has launched the formal sale process for its North Sea business as new chief executive Meg O'Neill presses ahead with a wider overhaul of the company’s portfolio. BP said the UK operation would be better suited under different ownership, allowing it to focus on higher-value opportunities. The company is predicted to generate approximately 117,000 barrels of oil equivalent daily by 2025 and currently has a workforce of roughly 1,100 individuals.
Reported by Independent · How we write briefs