BP puts North Sea business up for sale
Summary
BP is selling its North Sea oil business, ending 60 years of oil production in that region. The company wants to focus its operations and believes the North Sea business will do better under a new owner.Key Facts
- BP plans to sell its North Sea oil business.
- This move would stop BP’s 60-year oil production history in the North Sea.
- The North Sea operations include five production centers.
- About 1,100 people work in BP’s North Sea business.
- BP's CEO, Meg O’Neill, said the business will be stronger with another company.
- BP has been operating in the UK for over 100 years.
- The UK government and some groups support more North Sea oil drilling.
- BP wants to focus on slimming down its overall operations.
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