Though the global energy sector is crimping available revenue streams, BP said Wednesday it planned billions of dollars of spending in the North Sea. “These are challenging times for the industry and we are having to make hard choices,” BP North Sea Regional President Trevor Garlick said in an emailed statement. “Nonetheless, we remain committed to improving the competitiveness of the North Sea and to maximizing economic recovery from our fields.” BP in a quarterly earnings report released last week said it lost $5.8 billion, which in part was a reflection of the July 2 settlement reached to resolve claims associated with the oil spill in the Gulf of Mexico in 2010. The British company said it earned $228 million from oil […]