BP Sells UK North Sea Business Amid Shift in Government Policy

BP has decided to sell its UK North Sea business after 60 years of production. The energy giant announced that it will market the business for a potential sale, which is part of its strategy to slim down the group by selling off parts of the business.

The decision comes after Prime Minister Andy Burnham left the door open for future North Sea drilling in July 2026. He said he would take a pragmatic approach when it comes to the North Sea, adding 'There is a resource there. When people are struggling, we can't ignore that.'

Labour's 2024 manifesto stated that the party would not issue new North Sea licences.

BP's North Sea business has five production hubs and produced 117,000 barrels of oil equivalent per day in 2025. It employs around 1,100 staff, part of BP's approximately 13,960-strong UK workforce.