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Fri, 31 Jul 2026

Fri, 31 Jul 2026 BP puts North Sea business up for sale

The decision follows a review of BP's operations and is set to end 60 years of production in the region by the oil giant.

* BP has announced that it will sell its North Sea business, which has been operating in the region for over 60 years.
* The decision follows a review of BP's operations as part of its efforts to slim down the group.
* The sale could potentially bring in £2bn to BP and affect around 1,100 employees who work at five production hubs.
* Energy Secretary Miatta Fahnbulleh has said that her priority is to ensure that workers and local communities are protected during the sale process.
* The decision has sparked debate about the future of North Sea oil and gas production, with some arguing for increased drilling to improve energy security and reduce costs.
* Labour's Prime Minister Andy Burnham has said he would take a "pragmatic approach" to the issue, while President Trump and some trade unions have backed increased drilling in the region.
* The Scottish government's energy minister Stephen Gethins has expressed concerns about the uncertainty caused by the sale for workers and the need for policies that support North Sea energy production.