Group 1 - The sale of the lubricants business is part of the British energy giant's strategy to raise $20 billion through asset sales [1] - This divestment aligns with the company's broader efforts to streamline operations and focus on core areas of growth [1] - The lubricants business is expected to attract significant interest from potential buyers due to its established market presence [1] Group 2 - The company aims to utilize the proceeds from asset sales to strengthen its balance sheet and invest in renewable energy projects [1] - This move reflects a growing trend in the energy sector where companies are divesting non-core assets to enhance financial flexibility [1] - The planned asset sales are part of a larger restructuring initiative aimed at improving operational efficiency and shareholder returns [1]
BP Is Near Deal to Sell Majority Stake in Castrol to Stonepeak in $10 Billion Deal