BP Puts UK North Sea Business Up for Sale
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BP has initiated a sales process for its UK North Sea business, which includes five production hubs across the central North Sea and west of the Shetland Islands. The move comes as the company's new CEO pushes for an overhaul of the business. The UK energy minister is in contact with BP regarding the sale plans, which could put around 1,100 jobs at risk. Industry groups have urged the new prime minister to provide stability and policy framework to prevent employers from leaving the region.
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