Key PointsBP sells Castrol stake for $6bn after striking a deal to offload a majority holding in its motor oil business, marking a key step in the energy giant’s push to cut debt and refocus on core oil and gas operations.The agreement hands control of Castrol to US investment firm Stonepeak and signals a sharper strategic reset under mounting investor pressure.What Happened BP agreed to sell a 65% stake in Castrol to New York-based Stonepeak in a deal that values the lubricants brand at $10.1bn.The transaction delivers $6bn in cash to BP. BP sells Castrol stake for $6bn after striking a deal to offload a majority holding in its motor oil business, marking a key step in the energy giant’s push to cut debt and refocus on core oil and gas operations. The agreement hands control of Castrol to US investment firm Stonepeak and signals a sharper strategic reset under mounting investor pressure. What Happened BP agreed to sell a 65% stake in Castrol to New York-based Stonepeak in a deal that values the lubricants brand at $10.1bn. The transaction delivers $6bn in cash to BP. The company will retain a 35% minority stake in Castrol, which it has owned since 2000. BP said it will use the proceeds to reduce debt and simplify its business, calling the sale a milestone in its restructuring plan. Why It Matters The deal accelerates BP’s plan to sell $20bn of assets by 2027 and comes as the company pivots away from aggressive green energy investment. Investors have criticised BP for lagging behind rivals on profits and share price. In response, BP has renewed its focus on oil and gas, mirroring moves by Shell and Equinor as global energy firms reassess the pace of the energy transition. The Castrol sale also follows BP’s exit from US onshore wind and its Dutch mobility and convenience arm, underlining a broad retreat from non-core assets. What Happens Next BP says it is now more than halfway to its $20bn divestment target. More asset sales could follow as the company sharpens its downstream portfolio. The deal also lands weeks before Meg O’Neill becomes BP’s first female chief executive in April 2026, after a rapid leadership reshuffle at the top of the company. Markets reacted positively at first, with BP shares opening higher, though gains eased later in the session. Industry Reaction Interim chief executive Carol Howle said the deal reduces complexity and speeds up delivery of BP’s strategy. AJ Bell investment director Russ Mould called the sale a boost for shareholders, saying the cash will make a “meaningful dent” in BP’s debt burden. Post navigation Bulgaria Joins the Euro, Becoming the 21st Eurozone Member