BP TO SELL NORTH SEA OPERATIONS AFTER 60 YEARS

BP announced on Friday that it would seek to sell its North Sea operations, stating the business would be "better positioned as part of another company". The announcement affects approximately 1,100 staff employed in the North Sea division, part of BP's 13,960-strong UK workforce. First Minister John Swinney responded by calling on the UK Government to scrap the Energy Profits Levy, describing Westminster's taxation as a "supertax on jobs" that is "hurting Scotland, especially the north east". The Scottish Government said it would work closely with BP, trade unions and partners to understand the impact and support workers.

UK Energy Secretary Miatta Fahnbulleh stated she had made clear to BP that her priority was ensuring workers and local communities were protected during the sale process. She described the North Sea as "a vital national asset" and said the Government would take a "pragmatic approach, recognising that oil and gas will be part of our energy mix for years to come". Shadow Scottish Secretary Andrew Bowie attributed the decision to "Labour's disastrous net-zero dogma" and urged the Government to approve new drilling licences at Jackdaw and Rosebank sites. Environmental charity Uplift's executive director Tessa Khan said the move recognised "the geological fact" that the North Sea's resources were depleting.

Prime Minister Andy Burnham has previously indicated a willingness to consider future North Sea drilling, telling the US president that the Government would "take a pragmatic approach" and that "we can't ignore" the resources there when people are struggling economically. Scotland's Energy Minister Stephen Gethins said oil and gas production must be managed alongside increasing renewable energy deployment. The sale process will determine which company acquires BP's stake in the North Sea Continental Shelf.