BP to sell majority stake in Castrol lubricants business

British oil giant BP said Wednesday it has agreed to sell a majority stake in its Castrol lubricants business to US investment firm Stonepeak, as it seeks to cut debt. The sale of BP's 65 percent stake will net it around $6 billion, the company said in a statement. The deal, which values Castrol at $10.1 billion, is expected to be completed by the end of 2026.