The Zhitong Finance App learned that European traditional energy giant British Petroleum (BP.US) has agreed to sell most of its shares in its Castrol lubricants business division to Stonepeak Partners, a well-known American investment company. The sale is expected to raise about 6 billion US dollars. British Petroleum's Castrol (Castrol) lubricants business is the British Empire's century-old lubricant brand. It has an important position in automotive and industrial use scenarios, and also has an important position in the global energy industry value chain. The divestiture of most of the shares in Castrol (Castrol) by British Petroleum means that the energy giant has basically abandoned this century-old lubricant business in order to raise larger amounts of cash to reduce debt and reverse years of poor performance.

The Zhitong Finance App learned that European traditional energy giant British Petroleum (BP.US) has agreed to sell most of its shares in its Castrol lubricants business division to Stonepeak Partners, a well-known American investment company. The sale is expected to raise about 6 billion US dollars. British Petroleum's Castrol (Castrol) lubricants business is the British Empire's century-old lubricant brand. It has an important position in automotive and industrial use scenarios, and also has an important position in the global energy industry value chain. The divestiture of most of the shares in Castrol (Castrol) by British Petroleum means that the energy giant has basically abandoned this century-old lubricant business in order to raise larger amounts of cash to reduce debt and reverse years of poor performance.