By GB News (World News) | Created at 2026-07-31 07:06:04 | Updated at 2026-08-08 18:47:18
1 week ago
BP has confirmed plans to put its North Sea oil business up for sale despite the reserves it owns being "integral to the UK's energy system".
According to the energy company, this latest move is part of continuing efforts to trim down its operations by selling off parts of the business.
Chief executive Meg O’Neill said she believed the North Sea business, which has around 1,100 staff, would be “better positioned as part of another company”.
She said: "The North Sea remains integral to the UK’s energy system.
"However, as we focus our portfolio and direct capital to our highest-value opportunities, we believe our North Sea business will be better positioned as part of another company.
"It has world-class people, resilient assets and a proud heritage, and it is precisely these qualities that can attract an owner ready to back its next chapter."
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