BP puts UK North Sea oil and gas assets up for sale as CEO pushes overhaul

BP wants to sell its British oil and gas fields in the North Sea as new chief executive officer Meg O’Neill accelerates a sweeping portfolio overhaul aimed at improving profitability.A day earlier, British Prime Minister Andy Burnham said he planned to take a “pragmatic” approach to developing and using oil and gas resources in the North Sea, setting out his position after US President Donald Trump said the basin would be opened up.“The North Sea remains integral to the UK’s energy system. However, as we focus our portfolio and direct capital to our highest-value opportunities, we believe our North Sea business will be better positioned as part of another company,” O’Neill said in a statement.ExxonMobil, Chevron, ConocoPhillips, Shell, TotalEnergies and Eni have all sold, merged, spun off