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 it is putting its North Sea business up for sale, ending 60 years of production in the region. The decision comes after a review of the company's operations as it seeks to streamline its portfolio. The North Sea business, which has five production hubs and employs around 1,100 people, produced 117,000 barrels of oil equivalent per day in 2025.
Despite its prime location and world-class workforce, BP believes the business will be better positioned as part of another company. The sale could potentially generate £2 billion for BP. The UK government is closely monitoring the situation, with Energy Secretary Miatta Fahnbulleh emphasizing the need to protect workers and the local community during the sale process.
The North Sea issue has become a topic of political debate, with Labour promising not to issue new drilling licences but honour existing ones. However, recent calls for increased North Sea drilling have grown louder, especially in light of rising oil prices due to the Iran conflict. Labour MP Andy Burnham, who is now the UK's Prime Minister, hinted at a more pragmatic approach to North Sea oil and gas during his recent talks with US President Donald Trump.
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