BP is making some big changes. They are talking with Stonepeak, a large investment company, about selling their Castrol lubricants unit. This sale is part of BP's larger plan to raise a lot of money by selling off some of their business parts.

Here's what's happening: Both Stonepeak and another private equity firm, One Rock, made offers for Castrol back in September. But the exact amount Stonepeak is offering is not public, and it's unclear if BP is still in talks with One Rock. Everything is very secretive. Just because they're talking doesn't mean a deal will happen.

Back in May, it was revealed that BP was considering selling Castrol. Analysts from RBC think the sale could bring in around $8 billion. But BP, Stonepeak, and One Rock aren't sharing many details—they all declined to comment.

So, why is this sale important? BP is trying to make some big changes. They want to focus on making more money and keeping their investors happy, especially with pressure from big players like the activist hedge fund Elliott. BP's CEO, Murray Auchincloss, recently said there's a lot of interest in Castrol, but he's not sharing the details. He did mention that BP expects to finalize or announce around $5 billion in asset sales this year.

This is all part of a bigger plan. BP is trying to simplify their business and focus on what's most important. Selling off parts like Castrol could be a smart move, but it's not without risks. Will they get the price they want? Will the sale go smoothly? Only time will tell.

BP's Big Shift: What's Next for Castrol?

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BP's Big Shift: What's Next for Castrol?

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