BP puts its North Sea business up for sale after 60 years of production

Tessa Khan, executive director of Uplift, said: “BP’s retreat from the North Sea sends a clear message: oil and gas companies will stay only as long as they can extract maximum profit, then they’ll walk away from workers and communities without a second thought.

“After 60 years of drilling, and with around 93 per cent of the ageing North Sea’s recoverable reserves already extracted, BP has logically decided there’s more money to be made elsewhere. That may make sense for shareholders, but it exposes the reality that the industry has no serious plan for its workforce.

“For years the oil majors promised they would lead the UK’s transition to clean energy. Instead, they’ve spent that time squeezing every last bit of profit from the North Sea before heading for the exit.

“This should be a warning to Burnham. More drilling isn’t a jobs strategy. It won’t take a penny off bills, and makes only a minimal impact on energy security – most of what’s left is oil for export.

“If we want secure, long-term employment and a stronger economy, we must stop relying on companies that prioritise profits over everything. Reindustrialisation requires government to step in with a coherent plan and public investment in new industries, like wind manufacturing, that will provide good jobs and power the UK for decades to come.”