BP seeks to sell North Sea business as UK faces drilling dilemma

LONDON: BP has launched moves to sell its North Sea business, the British oil and gas giant announced on Friday (Jul 31), as new Prime Minister Andy Burnham faces pressure to ease drilling restrictions in the area."The North Sea remains integral to the UK's energy system," BP chief executive Meg O'Neill said in a statement."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," she added.BP's North Sea portfolio comprises five production hubs and employs about 1,100 people, the company noted Friday as it maintained its commitment to the UK, which will remain home to its global headquarters. BP, whose performance has generally fallen behind that of its rivals in recent