BP To Exit North Sea Operations
British oil giant BP plans to withdraw from the North Sea after 60 years of presence. The decision follows reports that profit taxes will be imposed over the next 25 years. The move comes amid broader economic challenges in the United Kingdom.
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Sources · 7 independent
Sky News Arabia Radio
“today morning there was a report that the largest British oil company BP will withdraw from the North Sea. After 60 years of presence in the North Sea, it will withdraw. Why? Because there are taxes on profits that will be imposed over 25 years.”
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