BP puts UK North Sea oil and gas business up for sale

BP has announced it is putting its UK North Sea oil and gas business up for sale, a move that comes as part of a broader overhaul by its CEO. The company confirmed the plan despite describing the assets as 'integral to the UK energy system.' The decision follows a tax increase on oil and gas profits imposed by the UK Labour government. BP is now starting the process for a potential sale of its North Sea operations.