BP has announced the sale of a majority 65% stake in its motor oil division, Castrol, to US investment firm Stonepeak for $6 billion. This move is part of BP's strategy to reduce debt and refocus on its core crude oil and gas business.

• The deal values Castrol at $10.1 billion, with BP retaining a 35% stake.
• Stonepeak, a New York-based investment firm, acquired the majority stake.
• The sale contributes significantly to BP's target of divesting $20 billion worth of assets, and signals a shift away from green energy investments.
• The announcement follows the appointment of Meg O’Neill as BP's first female chief executive, set to take over in April 2026.