BP to Sell Majority Stake in Castrol Business for $6 Billion [Yahoo! Finance]
BP p.l.c. (BP)
Last bp p.l.c. earnings: 4/29 04:01 pm
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Source: Yahoo! Finance
The UK oil giant will divest a 65% stake, retaining the remaining interest via a joint venture, it said Wednesday. While the deal accounts for a sizable chunk of BP's $20 billion divestment plan, a sale was initially expected to fetch as much as $10 billion. Most Read from Bloomberg New York's Congestion Pricing Is Working. Five Charts Show How With Mamdani, the Humble Bus Gets Its Due As Zipcar Leaves London, Car-Share Boosters Are Looking for a New Ride When It Comes to US Transportation, 2025 Had Some Wins, Too BP is shedding assets to reduce debt and turn around years of lagging performance that put the company in the crosshairs of activist shareholder Elliott Investment Management. It kicked off the sale process for Castrol back in February, when then-Chief Executive Officer Murray Auchincloss unveiled a strategic reset, promising to refocus on oil and gas, slash costs and reduce debt. “The transaction represents a significant milestone in BP's commitment to accele
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BP
News
- BP sells £4bn stake in Castrol [Yahoo! Finance]Yahoo! Finance
- Oil and gas industry scaling back its energy transition initiatives [Yahoo! Finance]Yahoo! Finance
- BP sells stake in motor oil arm Castrol for $6bn [Yahoo! Finance]Yahoo! Finance
- Oil giant BP to sell 65% stake in $10 billion Castrol unit [MSNBC.com]MSNBC.com
- Oil giant BP to sell 65% stake in $10 billion Castrol unit [CNBC]CNBC
BP
Earnings
- 11/5/25 - Beat
BP
Sec Filings
- 12/18/25 - Form 25-NSE
- 12/18/25 - Form 6-K
- 12/1/25 - Form 6-K
- BP's page on the SEC website