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The Guardian - UK
The Guardian - UK
Business
Graeme Wearden

BP puts North Sea oil and gas business up for sale

British Petroleum North Sea Oil Meg ONeill
A section of the BP eastern trough area project oil platform in the North Sea
BP believes its North Sea business would ‘be better positioned as part of another company’. Photograph: Reuters

BP has put its North Sea oil and gas business up for sale as it looks to end six decades of production from the basin.

The firm announced on Friday morning it had launched a formal process to market its North Sea business for a potential sale. The move comes as BP’s new chief executive, Meg O’Neill, tries to simplify the company and cut its debt levels.

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