A Big End to the Year for BP

BP is closing out the year with a flurry of moves that underline a decisive shift in strategy, marked by major portfolio changes, a leadership transition, and continued momentum in upstream project delivery. The company has agreed to sell a majority stake in its Castrol lubricants business, one of BP’s best-known consumer-facing brands, in a deal that values the unit at just over $10 billion, including debt. BP will retain a significant minority interest, but the transaction hands operational control to a ...