BP puts North Sea oil and gas business up for sale

Move, which will end six decades of production in area, comes as new CEO tries to simplify firm and cut debtBusiness live – latest updatesBP has put its North Sea...

By Guardian staff · The Guardian World

Move, which will end six decades of production in area, comes as new CEO tries to simplify firm and cut debt Business live – latest updates BP has put its North Sea oil and gas business up for sale, as it looks to end six decades of production from the region. The oil major announced on Friday morning that 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. Continue reading...