BP CEO Urges Andy Burnham to Boost North Sea Drilling and Reconsider Harmful Tax Increases on the Industry

ANDY Burnham has been told to ramp up North Sea oil and gas drilling and think twice about damaging tax hikes on the sector, BP’s boss warns.

is facing pressure to further after the industry hit out at their windfall tax.

BP has urged Labour to ramp up North Sea oil and gas drilling Credit: Getty New PM Andy Burnham is facing pressure to further exploit the domestic energy supplies Credit: Reuters

The intervention comes as announced quarterly profits of £4.26billion – its highest since the start of the in 2022 – as prices rise due to the .

The energy giant’s chief Meg O’Neill remarks came after the firm last week announced they are are selling their UK operations after six decades there.

She said: “We do still see growth potential in the North Sea – there’s still undeveloped fields there. We would love to see exploration resume in the North Sea.”

, the Energy Profits Levy, to 38 per cent, bringing the total headine tax rate on the North Sea oil and gas firms to 78 per cent.

O’Neill said that from an investment viewpoint “dollars spent in the North Sea are just not as competitive as other opportunities.”

It comes as said the UK was “sitting on top of gold”.

Speaking from the White House on Monday evening, the US President added: “When you look at the UK, they have one of the , North Sea oil.

“Now I think your new , from what I hear.

BP chief Meg O’Neill wants Labour to think twice about damaging tax hikes on the sector Credit: Alamy President Donald Trump said the UK was ‘sitting on top of gold’ Credit: AP

“I spoke to him, and he sounded terrific on this subject. But you open it up, you’ll be a wealthy country.

“You keep it closed, you’re going to be a bankrupt country, which is what you are now. Essentially, you’re a bankrupt country.”

He added: “You’re sitting on top of gold, better than gold, and you don’t do anything with it.”