BP weighs potential exit from UK North Sea, Bloomberg News reports
BP's Strategic Review and Potential Divestment in the UK North Sea
BP Considers Exiting UK North Sea Operations
May 1 (Reuters) - BP is considering potentially exiting part or all of its operations in the UK North Sea, Bloomberg News reported on Friday, citing people familiar with the matter, as the energy major seeks to cut debt amid a pivot back to oil and gas.
Internal Review and Possible Financial Impact
The company is conducting an internal review of its upstream operations in the UK, which could fetch about 2 billion pounds ($2.72 billion) in a full divestment, according to the report.
BP's Response and Recent Transactions
BP did not immediately respond to a Reuters request for comment.
Carol Howle, BP's deputy CEO, is overseeing the energy giant's ongoing portfolio review and strategy development. Last year, the company sold its stake in some of the North Sea assets to Serica Energy in a $232 million deal.
Additional Information
($1 = 0.7342 pounds)
(Reporting by Unnamalai L in Bengaluru; Editing by Anil D'Silva and Shailesh Kuber)
