BP places its North Sea oil and gas operations on the market
BP has announced plans to sell its North Sea oil and gas operations, signalling the end of nearly 60 years of activity in the region. On Friday morning, the company confirmed it had begun a formal process to market its North Sea assets for a possible sale. The decision forms part of a broader strategy by BP’s new chief executive, Meg O’Neill, to streamline operations and reduce overall debt. O’Neill stated: “The North Sea continues to play a key role in the UK’s energy system. However, as we
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