BP has hung the for-sale sign over its North Sea business as it seeks to end six decades of oil and gas production. As a widely held stock, the decision may raise questions for UK investors.

A company that once called itself “British Petroleum" may soon have no British production hubs, after BP announces its intention to sell its North Sea business.

BP will sell its North Sea oil division after the government's tax raid on domestic oil, leaving the energy giant without home production.