BP Nears Castrol Sale: Stonepeak in Advanced Talks as Valuation Swirls Around $8 Billion (Nov 13, 2025)
BP is in advanced talks to sell its Castrol lubricants business to Stonepeak, with negotiations ongoing and no deal guaranteed, according to Reuters and Offshore Engineer. Bids were submitted in September, and market estimates value Castrol near $8 billion. BP aims to raise $20 billion from divestments by 2027 amid pressure from activist investor Elliott. BP and Stonepeak have not commented.