BP boss warns Andy Burnham to ramp up North Sea drilling and U-turn on damaging tax hikes on sector

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. The Prime Minister is facing pressure to further exploit the domestic energy supplies 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 BP announced quarterly profits of £4.26billion – its highest since the start of the Ukraine war in 2022 – as prices rise due to the Middle East conflict. 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. Sign up for the Politics newsletter Thank you! 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.” Labour hiked the windfall tax, 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. READ MORE ON NORTH SEA OIL 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 Donald Trump 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 best energy fields in the world, North Sea oil. “Now I think your new Prime Minister is going to actually open up the (North Sea), from what I hear. Most read in The Sun 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.” Comment now