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

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…

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