BP to sell North Sea business; AI companies lead record surge on Korea’s stock market – business live

British oil giant BP is selling its North Sea business to redirect capital toward higher-value operations. According to The Guardian, the sale comes amid political controversy over UK drilling licenses—BP sees its North Sea assets as world-class and resilient, positioning them to attract a committed buyer. The divestment reflects mounting pressure across energy-intensive industries: British Airways owner IAG reported steep profit drops this quarter, driven by fuel-cost spikes triggered by the US-Israeli conflict in Iran and Iran's closure of the Strait of Hormuz, a key Gulf oil export route.

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