What specific carbon capture and storage projects in north-east England is BP planning to sell stakes in, and what is the stated rationale for these sales?

BP plans to sell stakes in two flagship carbon capture and storage (CCS) projects in north-east England — specifically the Northern Endurance Partnership (NEP) project, which aims to build offshore pipelines to transport CO₂ from the Humber region (including the Teesside power plant) for storage under the North Sea. BP states the 'time is right' to sell a portion of its equity in these projects, which have recently started construction, and bring in additional partners to support their long-term future.

How does BP’s strategic shift under new CEO Meg O’Neill reflect a broader retreat from its previous green agenda, and what structural change has already been announced?

Under new CEO Meg O’Neill, BP is retreating from the green agenda championed by former CEO Bernard Looney, including dismantling the 'gas and low-carbon' division that Looney established; this move signals a return to BP’s traditional structure focused on upstream oil and gas production and downstream refining, fuel distribution, and retail activities.

BP Plans to Sell Shares in Flagship Carbon Projects as It Pulls Back From Green Agenda

May 7, 2026

BP plans to sell stakes in two flagship carbon capture projects and reduce exposure to the Northern Endurance Partnership as it retreats from its green agenda under new CEO Meg O'Neill. This signals a strategic shift back towards traditional oil and gas operations amid UK policy challenges.

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BP Plans to Sell Shares in Flagship Carbon Projects as It Pulls Back From Green Agenda

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