BP announces plans to put its North Sea oil and gas business up for sale, ending about 60 years of production in the region under BP’s ownership. The decision follows an internal review of BP’s operations and is presented as part of a broader effort to reshape the company’s portfolio.
BP chief executive Meg O’Neill says the North Sea business would be “better positioned as part of another company,” according to multiple outlets. Euronews adds that the move comes as the UK faces higher windfall taxes and as global energy markets remain volatile, both of which may affect companies’ strategies. Other coverage emphasizes the company’s aim to “slim down” by selling parts of the group.
Overall reporting is consistent that BP is marketing the North Sea business for a potential buyer, but details on the sale process, timing, and assets included are not highlighted in the provided summaries. The outlets frame the move primarily as a strategic restructuring rather than a specific operational shutdown.
