- BP has announced its intention to sell its UK North Sea business after 60 years of operation, as part of a strategy to streamline the energy giant's portfolio.
- The decision follows prime minister Andy Burnham's comments that he told the US president that the UK “can’t ignore” North Sea resources, despite Labour's 2024 manifesto stating no new licences would be issued.
- BP's North Sea operations include five production hubs, producing 117,000 barrels of oil equivalent per day in 2025, and employ approximately 1,100 staff.
- Meg O’Neill, BP’s chief executive, stated that the North Sea business would be “better positioned as part of another company” to focus BP's capital on higher-value opportunities.
- She emphasised that the North Sea remains integral to the UK’s energy system and expressed confidence that its “world-class people, resilient assets and a proud heritage” would attract a suitable new owner.
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