{"text":[[{"start":6.88,"text":"BP has put its business in the UK North Sea up for sale, in a move that is set to end more than 60 years of production by the oil major in the basin."}],[{"start":16.04,"text":"“The North Sea remains integral to the UK’s energy system,” said chief executive Meg O’Neill. “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.”"}],[{"start":32.44,"text":"Earlier this year, BP held advanced talks with Ithaca Energy about a near £2bn deal for its business, but no agreement was reached."}],[{"start":41.68,"text":"The UK oil major at present operates five hubs in the North Sea, employing 1,100 people and producing just under 100,000 barrels of oil and gas a day. BP is one of the last oil majors to have a significant standalone business in the region, with others having either merged their assets or put them up for sale."}],[{"start":61.84,"text":"The news came after the UK’s new prime minister, Andy Burnham, promised a “pragmatic” approach to drilling in the North Sea, following a phone call with US President Donald Trump. Burnham said this week: “There is a resource there. When people are struggling, we can’t ignore that.”"}],[{"start":77.2,"text":"O’Neill said shortly after she started in her job that she saw “untapped potential” in the North Sea, but BP said its decision to launch a formal sales process “reflects its disciplined approach to capital allocation”."}],[{"start":89.48,"text":"The company said its global headquarters would remain in the UK. “The UK has been our home for more than 100 years and will continue to play an important role in our future,” said O’Neill."}],[{"start":103.88,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1785482573_3898.mp3"}