BP has said its UK North Sea oil and gas business would be “better positioned as part of another company”, adding fresh detail to its decision to sell an operation it has run for more than 60 years. The planned disposal is a significant shift for a major UK energy producer and has intensified political debate over taxation, net-zero policy and whether further North Sea projects should proceed.

The business has five production hubs, produced 117,000 barrels of oil equivalent a day in 2025 and employs about 1,100 people within BP’s UK workforce of roughly 13,960. BP says it is concentrating capital on higher-value opportunities, while also proposing to cut about 700 non-frontline roles globally; consultations on the Jackdaw and Rosebank projects are due to end on 10 and 17 August respectively.