BP legs it
The firm announced on Friday its operations in the UK Continental Shelf (UKCS) would be “better positioned as part of another company”…
Responding to the news, UK Energy Secretary Miatta Fahnbulleh said: “I’m in close contact with BP and have made clear that my priority is ensuring that the workers and local community are protected during this sale process.
“The North Sea is a vital national asset and we will take a pragmatic approach, recognising that oil and gas will be part of our energy mix for years to come.
“I’m focused on doing right by the workers in the North Sea who have powered this country for generations.”
Another angle -
Tax Regime and Investment Climate
As opposed to the other major North Sea oil and gas producer Norway, Britain’s tax regime on the industry in recent years has been marked by successive changes, decried by oil and gas companies for deterring investment.
“This decision is another stark reminder that confidence in the UK Continental Shelf has been badly shaken after years of policy uncertainty, punitive taxation and mixed messages about the future of the industry,” said Russell Borthwick, chief of the Aberdeen & Grampian Chamber of Commerce, which comprises many UK oil and gas producers.
Source: https://akhaart.blogspot.com/2026/07/bp-legs-it.html
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