BP Puts North Sea Business Up for Sale Amid Global Oil Price Pressure
BP has announced it will put its North Sea business up for sale, ending 60 years of production in the region by the oil giant. The decision follows a review of BP's operations as it seeks to slim down the group.
The North Sea business has five production hubs and employs about 1,100 people. It produced 117,000 barrels of oil equivalent per day in 2025, a small fraction of BP's daily production of 2.3 million barrels. The sale could potentially bring in £2 billion to BP.
BP's North Sea business has been a topic of debate in recent months, with some calling for increased drilling in the region due to high global oil prices. Labour leader Andy Burnham told US President Donald Trump he would take a 'pragmatic approach' to the issue, but also said that 'there is a resource there. When people are struggling - you can't ignore that.'
The sale has been met with concern from politicians and trade unions, who worry about the impact on jobs and the local community. Energy Secretary Miatta Fahnbulleh said she was in close contact with BP and her priority was to ensure 'the workers and local community are protected during this sale process.'