British oil giant BP aims to sell North Sea business
A logo of BP at a gas station in London. (AP Photo9
BP has launched moves to sell its North Sea business, the British oil and gas giant announced on July 31, as new Prime Minister Andy Burnham faces pressure to ease drilling restrictions in the area.
"The North Sea remains integral to the U.K.'s energy system," BP chief executive Meg O'Neill said in a statement.
"However, as we focus our portfolio and direct capital to our highest-value opportunities, we believe our North Sea business will be better positioned as part of another company," she added.
