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Oil giant BP to sell 65% stake in $10 billion Castrol unit
BP's $6 billion sale of a 65% Castrol stake to Stonepeak advances its $20 billion divestment plan to reduce debt and focus on higher-return oil and gas assets.
- On Dec. 24, 2025, BP agreed to sell a 65% stake in Castrol to Stonepeak, valuing the business at about US$10.1 billion.
- Following a strategic review earlier this year, BP plc advances its $20 billion divestment programme amid pressure from Elliott Investment Management, activist shareholder.
- Under the terms, BP plc will retain a 35% stake in a joint venture with a two-year lock-up, while Canada Pension Plan Investment Board will invest up to US$1.05 billion including US$800-million in accelerated dividends.
- The deal will generate about US$6 billion in net proceeds, which BP plc said it will use to reduce net debt and strengthen its balance sheet.
- The sale also coincides with BP's strategic reset and portfolio simplification, as Castrol develops liquid-cooling for AI data centres and Meg O'Neill is set to become BP's next chief executive.
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BP has reached an agreement with Stonepeak for the sale of 65% of ...
·Chile
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The British oil company BP has reached an agreement with Stonepeak for the sale of 65% of Castrol, with a company value of 8,572 million euros (10,100 million dollars), which implies a net income of approximately 5,092 million euros (6 billion dollars), which will retain a minority share of 35% in the brand of oils and lubricants for the automotive.The transaction, which is expected to be completed by the end of 2026, subject to regulatory appro…
·Madrid, Spain
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Total News Sources67
Leaning Left4Leaning Right9Center13Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
15%
C 50%
R 35%
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