Commodities
BP Sells Off North Sea Business Amid Job Cuts
BP has decided to sell its North Sea business after more than 60 years of oil production in the UK. The move puts around 1,100 jobs at risk.
The company operates five major production hubs in the North Sea, which produced 117,000 barrels of oil equivalent per day in 2025. This decision is part of BP's ongoing efforts to slim down its group by selling off parts of the business.
BP's Chief Executive Meg O'Neill believes that the North Sea business will be 'better positioned as part of another company.' She added, 'The North Sea remains integral to the UK's energy system.'