BP puts North Sea oil and gas business up for sale

Move will end six decades of production in area, 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 basin. The firm announced on Friday morning 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…