BP nets £4.4bn boost for balance sheet after Castrol deal completes

NAMPA / DPA

2026-11-02

London (PA Media/dpa) - BP has completed the sale of a majority stake in lubricants business Castrol in a move that gives it a $6-billion boost to pay debts down further. The oil major agreed the sale of a 65% holding in Castrol to US investment firm Stonepeak in December last year and will retain the remaining 35% stake in a new joint venture. BP said it would use the net proceeds from the deal to bolster its balance sheet as it continues to pay......

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