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BP CEO Says Multiple Interest Received for North Sea Business Sale

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BP (BP.L) Chief Executive Meg O'Neill said multiple parties recently expressed interest in acquiring the company's North Sea business, which was recently put up for sale, according to a Tuesday report.

In an interview with Bloomberg TV, O'Neill said the decision to divest the business was "not made lightly" but that the UK North Sea was "just not as competitive within our portfolio." Changes to the UK's regulatory framework and the oil company's broader strategy to boost its balance sheet were also cited as contributing reasons.

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