BP has initiated a formal process to sell its North Sea oil and gas business, ending six decades of production from the basin. CEO Meg O’Neill stated the move is to simplify the company and focus on high-value opportunities, despite the North Sea's importance to UK energy.
BP announced plans to sell its North Sea oil and gas business, which employs 1,100 people across five production hubs, to focus on high-value opportunities. The move follows declining production, tax changes, and similar divestments by other energy majors, despite recent UK government signals for a pragmatic approach to North Sea resources.
UK PM Andy Burnham adopts a 'pragmatic approach' to North Sea oil drilling, facing pressure from US President Trump, some unions, and industry, while Labour's manifesto pledges no new licences, sparking climate concerns.
US President Donald Trump claimed Aberdeen residents would celebrate reports that incoming UK PM Andy Burnham might back new North Sea oil and gas drilling, despite Burnham not confirming the reports. Trump also criticized wind power.
Donald Trump asserted that new UK Prime Minister Andy Burnham will fully open North Sea oil fields, an intervention made hours before Burnham takes office. This claim contradicts Labour's manifesto pledge against new licenses, though Burnham has not denied considering new production, which his deputy termed a 'change in emphasis'.
Ahead of entering Downing Street, new UK Prime Minister Andy Burnham is expected to announce a pragmatic approach to North Sea oil and gas, honoring existing licenses while adhering to the 2024 manifesto pledge against new ones. This comes amid ongoing legal challenges to fields like Rosebank and Jackdaw, and industry calls to address the Energy Profits Levy.
UK's likely next Prime Minister, Andy Burnham, faces a critical decision on expanding North Sea oil drilling or focusing on renewables, amidst a global energy crisis exacerbated by the Iran war and Russia's conflict in Ukraine. Business leaders and some unions back drilling for energy security and jobs, while others advocate for clean energy. Key fields like Rosebank and Jackdaw are central to the debate.
Donald Trump called Andy Burnham "extremely liberal" and criticized the UK, suggesting a difficult relationship if Burnham becomes PM. His remarks came during a meeting with NATO Secretary-General Mark Rutte, where Trump also expressed disappointment with European allies over the Iran conflict.
Donald Trump criticized outgoing UK PM Keir Starmer's policies on energy, immigration, and relations with Washington, suggesting they contributed to his downfall. Trump cited Starmer's approach to North Sea oil and the use of a British base in Cyprus for US strikes on Iran as key issues.
Donald Trump criticized outgoing UK PM Keir Starmer's policies on energy, immigration, and foreign relations, suggesting they contributed to his downfall. Trump cited Starmer's stance on North Sea oil and support for the US on geopolitical issues as key failures.
Donald Trump criticized UK Prime Minister Keir Starmer's upcoming resignation, citing Starmer's handling of energy policy, immigration, and relations with Washington. Trump specifically mentioned Starmer's stance on North Sea oil and wind turbines, as well as delays in approving US requests for military bases in Cyprus for strikes in Iran.
Donald Trump criticized outgoing British Prime Minister Keir Starmer, citing Starmer's handling of energy policy, immigration, and relations with Washington. Trump specifically mentioned Starmer's approach to North Sea oil and wind energy, as well as delays in approving US requests for military base use in Cyprus.
The Scottish National Party (SNP) has lost the Aberdeen South seat to the Scottish Conservatives in a by-election, with Douglas Lumsden winning by 6,050 votes. The result is seen as a referendum on the North Sea oil and gas industry.
The Aberdeen South by-election is a tight contest between the SNP and Conservatives, largely focused on North Sea oil and gas policy. Job losses and energy security claims are central, with the Tories advocating for extraction and the SNP navigating between jobs and renewables.
Wes Streeting is preparing a Labour leadership bid focused on attracting global talent through a "global talent programme" and using North Sea oil and gas tax revenues to cut energy bills. He criticizes the US for deterring scientists and AI experts, vowing to welcome them to Britain.
The Aberdeen South by-election on June 18 is a pivotal contest on North Sea oil politics. Reform UK and Scottish Conservatives are campaigning on reviving oil and gas production, challenging the SNP's net zero commitments. The outcome could signal a wider debate on the economic burden of net zero ahead of a UK general election.
