BP is carrying out a strategic review of its Castrol business, with the intention of accelerating Castrol’s next phase of value delivery.
Castrol is a global lubricants brand, marketing products in more than 150 countries within the automotive, marine, industrial, and energy sectors. Castrol seeks to grow its core mobility businesses, expand participation in industrial lubricants, enhance its mobility services and diversify into data centre fluids.
The strategic review of Castrol will consider all options with a focus on value creation. Proceeds from any potential transaction that may arise as a result of the review will be allocated to strengthening BP’s balance sheet.