BP Chief Brands North Sea 'Not Competitive' as Oil Giant Rakes in Profits
BP said higher commodity prices lifted second-quarter profit, while its North Sea exit raised fresh concerns over 1,100 jobs and investment.
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4 Articles
Sanjoy Sen: The tragedy of BP's North Sea exit
Sanjoy Sen is a chemical engineer. He contested Alyn and Deeside in the 2019 general election. When I landed on a BP oil platform a decade ago, I spotted the plaque. Opened (albeit remotely) by Margaret Thatcher in 1983, this multi-million pound installation was a big deal, not just for BP but for Britain. Not quite “what’s good for General Motors is good for America” but you get the drift. So, after 60 years of production, it is again a big dea…
Petroleum BP has started a process to market the business in the North Sea "with a view to a possible sale". It will be the end of more than 60 years of oil production in this basin
After ExxonMobil, Chevron, Shell and TotalEnergies, BP also withdraws from the North Sea, where production is expensive and production volumes are falling.
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