- christian hartmann/Reuters The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET. 1406 ET – Crude futures end a shortened pre-Christmas session with little change as U.S. actions to contain Venezuela’s oil trade and continuing Russia-Ukraine tensions provide support against views of oversupply. The Venezuela blockade is the main focus going into the holiday weekend, Dennis Kissler of BOK Financial says in a note. “While the ...

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 ...

BP Plc agreed to sell a majority stake in its Castrol lubricants division to US investment firm Stonepeak Partners, marking a key milestone as the oil and gas major seeks to reduce debt and reset its business. The UK energy giant will raise about $6 billion from the sale of a 65% interest, which includes some prepayment of future dividends on its remaining stake. While the price falls short of earlier expectations, it’s a notable move by new Chairman Albert Manifold, who’s already made his mark by replaci ...

BP Plc agreed to sell a majority stake in its Castrol lubricants division to Stonepeak Partners to raise about $6 billion. The UK oil giant will divest a 65% stake, retaining the remaining interest via a joint venture. Bloomberg's Mitchell Ferman reports. ...

Core Viewpoint - BP is close to selling a majority stake in its Castrol lubricants business to Stonepeak, valuing the division at $10 billion including debt [1] Group 1 - The deal involves a majority stake sale, indicating BP's strategic move to divest from certain business segments [1] - The valuation of the Castrol division at $10 billion reflects the significant market position and potential of the lubricants business [1]

Group 1: Company Performance - BP p.l.c. reported revenue of $49.2 billion in Q3 2025, reflecting a 2% increase from the same period last year [3] - The company achieved an upstream plant reliability rate of 96.8%, contributing to a 3% quarter-on-quarter increase in underlying production [3] - Operating cash flow for Q3 reached $7.8 billion, leading to an underlying replacement cost profit of $2.2 billion [3] Group 2: Strategic Initiatives - BP is in discussions with investment firm Stonepeak regarding the sale of its Castrol lubricants unit, part of a strategy to meet a $20 billion divestment target [4] - The sale process for the lubricants business began earlier this year as BP aims to shift away from traditional energy sources [4] - The company expects divestment and other proceeds for 2025 to exceed $4 billion [3] Group 3: Investment Outlook - Piper Sandler raised BP's price target to $44 from $41 while maintaining a Neutral rating on the shares [2] - BP is included among the 12 Best European Dividend Stocks to Buy Now, indicating positive sentiment in the investment community [1]

Core Viewpoint - BP is actively negotiating with Stonepeak for the sale of its Castrol lubricants unit, which is a significant move towards achieving its $20 billion divestment target [1] Company Summary - The sale of the Castrol lubricants unit represents a major step for BP in its strategy to divest assets [1] - The divestment goal set by BP is $20 billion, indicating a substantial restructuring effort within the company [1] Industry Summary - The potential sale highlights ongoing trends in the energy sector where companies are focusing on divestments to streamline operations and improve financial health [1]

Mergers and Acquisitions - One Rock Capital Partners is among the remaining bidders for BP's Castrol lubricants business [1] - One Rock Capital Partners is a US mid-market private equity firm [1]

Core Insights - BP plc has initiated the sale of its Castrol lubricants business as part of a strategy to raise $20 billion by 2027 through asset divestments [1][2] - The sale is expected to streamline BP's portfolio and enhance its financial stability under CEO Murray Auchincloss [1][6] - Analysts estimate that the Castrol sale could generate between $10 billion and $11 billion, making it one of the largest divestments in BP's current pipeline [4] Company Strategy - BP has engaged Goldman Sachs to manage the sale process and has circulated an information memorandum to potential bidders [2] - The divestment of Castrol is part of a broader restructuring effort that includes evaluating other non-core assets such as the Gelsenkirchen refinery in Germany and a 50% stake in Lightsource bp [5] - The decision to sell assets follows pressure from activist investor Elliott Management for strategic changes and operational efficiencies [6] Market Interest - Early interest in the Castrol business has been noted, with reports indicating that Saudi Aramco has expressed interest [7] - The formal sale process and the involvement of Goldman Sachs suggest increasing momentum in BP's divestment program [7]