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Dec 24, 2025 12:00 PM

BP Sells 65% Of Castrol, Unlocks $6 Billion To Slash Debt

BP PLC (NYSE:BP) is strategically streamlining its portfolio by selling a controlling stake in its Castrol lubricants business. This move is designed to bolster BP's balance sheet and simplify its operations, while supporting the company's commitment to financial discipline and maintaining assets that generate consistent cash flow.

BP will sell 65% of Castrol to infrastructure investor Stonepeak. The deal values the business at about $10.1 billion. The transaction is expected to generate approximately $6 billion in net proceeds for BP.

This includes an advance tied to dividend income from its remaining stake. The company stated that ...