BP sold its stake in Castrol for 6 billion dollars, part of its strategy to reduce debt and optimize its portfolio.

BP has completed one of the largest sales in its history, divesting its stake in the Castrol lubricants brand for approximately 6 billion dollars. This sale is part of BP's goal to raise 20 billion dollars from asset sales, considering that the company has already generated approximately 11 billion dollars from this program. BP will use the funds obtained to reduce its net debt, which stood at 26.1 billion dollars at the end of the third quarter of 2025.

The new joint venture structure allows BP to maintain exposure to Castrol's growth while providing a complete exit after a two-year lock-up period. Castrol, with a 126-year legacy, is an iconic brand in the lubricants industry, holding a strong position in the automotive, industrial, and marine segments. Anthony Borreca from Stonepeak emphasized the importance of lubricants for the efficient operation of vehicles and machinery, while Castrol's CEO, Michelle Jou, highlighted the company's commitment to investing in the future. The completion of the transaction is expected by the end of 2026, subject to the approvals of the competent authorities.