|
BP PLC is mulling to exit part or all of its operations in the UK North Sea, Bloomberg reported Friday. The London-based oil major is conducting an internal review of its upstream operations in the UK, which could fetch about £2 billion in a full divestment, people familiar with the matter said according to Bloomberg. The company is currently working to strip assets and pay down debt and is targeting around $20 billion in divestments by the end of 2027. There is no certainty that BP will decide to pursue any divestment in the North Sea, as the review is ongoing. BP shares closed 3.5% lower at 563.30 pence each on Friday in London. Its shares are 61% higher than a year ago, and up 29% since the start of 2026. Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
