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Business

As BP Leaves the North Sea, These Independents Are Buying In

Reported by Oil Price 22 Oct 2026, 1:30 am IST 1 min read

Image: Oil Price. Rights remain with the publisher.

Back in July, UK oil and gas major BP Plc. (NYSE:BP) announced that it was putting its entire UK North Sea oil and gas business up for sale as part of a broader $20-billion portfolio overhaul, marking the end of a 60-year era as a leading player in Europe's largest oil basin. BP's North Sea operations produced about 117,000 barrels of oil equivalent per day in 2025 (roughly 5% of BP's total global output) and employed around 1,100 people. BP is hardly alone.

Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX) have sold their UK North Sea assets in recent…

Read the full report on Oil Price

Story file

Section: Business
First reported by: Oil Price
Reporter: alex kimani
Published: Thursday, 22 October 2026, 1:30 am IST
Coverage: One outlet so far

How this page works. The Headline Update lists this report from Oil Price with a short summary and a link to the original. The original reporting and photograph belong to the publisher. Spotted an error in our summary? Tell our corrections desk.