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BP Sells North Sea Oil Business as UK PM Eyes New Drilling

BP Sells North Sea Oil Business as UK PM Eyes New Drilling

BP is putting its North Sea oil business up for sale, ending 60 years of regional production. The UK’s new prime minister is already signaling openness to more drilling there. BP confirmed the decision Friday after reviewing its global operations.

The unit runs five production hubs and employs about 1,100 workers. A Political Backdrop The sale lands as political pressure builds on the government to loosen drilling restrictions. Prime Minister Andy Burnham took over after Starmer’s resignation in June.

He told US President Donald Trump this week he would take a “pragmatic approach” to North Sea oil and gas. “There is a resource there. When people are struggling – you can’t ignore that.” — Andy Burnham, BBC News The comments follow months of debate.

The Iran war pushed oil prices past $110 a barrel earlier this year. That surge revived calls for expanded drilling from Conservatives, Reform UK, and Trump himself.

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