In December, BP p.l.c. ( BP ) announced the sale of 65% of its Castrol business -- which is the world's leading manufacturer and distributor of premium lubricating oils -- to U.S.-based infrastructure investment firm Stonepeak. The dealAnalyst’s Disclosure:I/we have a beneficial long position in the shares of BP, XOM, CVX either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seekin ...

Core Viewpoint - BP p.l.c. announced the sale of 65% of its Castrol business, a leading manufacturer and distributor of premium lubricating oils, to U.S.-based Stonepeak [1] Group 1: Company Overview - BP is divesting a significant portion of its Castrol business, indicating a strategic shift in its operations [1] - The Castrol brand is recognized globally for its premium lubricating oils, highlighting its importance in the lubricants market [1] Group 2: Transaction Details - The sale involves 65% ownership transfer to Stonepeak, an infrastructure investment firm based in the U.S., suggesting a focus on investment in core operations [1]