BP weighs sale of $10 billion Castrol lubricants unit, Bloomberg News reports

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BP weighs sale of $10 billion Castrol lubricants unit, Bloomberg News reports

_{//business-finance.news-articles.net/content/202 .. trol-lubricants-unit-bloomberg-news-reports.html}
^{Published in Business and Finance on Tuesday, February 18th 2025 at 23:00 GMT by Reuters}

Oil major BP is considering a potential sale of its lubricants business, Castrol, which could be worth about $10 billion in a deal, Bloomberg News reported on Tuesday, citing people familiar with the matter.

BP is considering the sale of its Castrol lubricants business, which could be valued at around $10 billion, according to a Bloomberg News report on February 18, 2025. The potential divestiture is part of BP's broader strategy to streamline its operations and focus on its transition to cleaner energy sources. Castrol, known for its engine oils and lubricants, has been a significant part of BP's portfolio, but the company is now evaluating whether it fits into its long-term plans. The sale could attract interest from private equity firms, other oil companies, or industrial conglomerates looking to expand their automotive and industrial product lines. However, BP has not made a final decision, and the process is still in the early stages.

Read the Full Reuters Article at:
[ https://www.reuters.com/markets/commodities/bp-weighs-sale-10-billion-castrol-lubricants-unit-bloomberg-news-reports-2025-02-18/ ]

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